S&P 500 Reaches Record High Amid Tech Sector Gains

On Thursday, August 28, 2025, the S&P 500 closed at a record 6,501.86, marking a 0.3% increase from the previous day. The Dow Jones Industrial Average also reached a new high, closing at 45,636.90, up 0.2%. The Nasdaq Composite gained 0.5%, nearing its all-time high set two weeks earlier.

Technology and communication sectors were primary drivers of these gains, with companies like Broadcom, Amazon, and Alphabet leading the charge. Despite reporting strong quarterly results, Nvidia's stock dipped 0.8% due to slower-than-expected AI chip sales.

Economic indicators showed resilience, with the U.S. GDP growing at an annualized rate of 3.3% in the April-June quarter and unemployment claims decreasing, even as hiring slowed.

Investors are now focusing on upcoming inflation data, particularly the personal consumption expenditures index, to gauge potential Federal Reserve actions. Economists anticipate a 0.2% monthly increase and a 2.6% annual rise for July.