The S&P 500 rose 0.3% to post a fresh record close thanks to most of the leading tech companies that have been key to its rally in recent years.
The Magnificent 7 did more than twice as well as the benchmark US stock index today, with Alphabet up more than 2% and Meta, Nvidia, and Amazon all up at least 1%. The sore thumb that stuck out: Apple shares fell 1.5% after the tech giant debuted an extra-slim iPhone Air, iPhone Pro with longer battery life, updated AirPods Pro 3 with live language translation, and refreshed Apple Watch line at its annual event. It usually falls during these announcements.
The Nasdaq 100 also rose 0.3%, while the Russell 2000 fell 0.5%.
Materials were far and away the worst-performing S&P 500 sector ETF, while communications services and health care posted the biggest gains.
Gains on the day were led by UnitedHealth, which popped 8.7% after the health insurance giant said it expects most of its Medicare Advantage enrollees to be on more lucrative plans. Declines were led by Albemarle, which dropped 11.5% after reports that Chinese EV-battery maker Contemporary Amperex Technology will restart its Yichun lithium mine.
