--- title: "NASDAQ and S&P index closed at record highs" type: "News" locale: "en" url: "https://longbridge.com/en/news/285260255.md" description: "The S&P and NASDAQ indices closed at record highs, with the NASDAQ rising by 1.03% and the S&P by 0.81%. The small-cap Russell 2000 also reached a new record, gaining 1.75%. Key drivers of this surge include semiconductor and AI infrastructure stocks, particularly memory and storage companies like Micron and Western Digital, benefiting from increased demand. Other notable gainers include Intel and Qualcomm, while airlines also saw gains due to improved market sentiment. This trend reflects a shift towards AI-led capital spending and earnings strength in the semiconductor sector." datetime: "2026-05-05T20:16:49.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285260255.md) - [en](https://longbridge.com/en/news/285260255.md) - [zh-HK](https://longbridge.com/zh-HK/news/285260255.md) --- # NASDAQ and S&P index closed at record highs The S&P and NASDAQ indices close at record levels. The gains were led by the - NASDAQ which rose by 1.03%. - The S&P rose by 0.81%.. - The Dow industrial average rose by 0.73%. The small-cap Russell 2000 was also a beneficiary of risk on sentiment. 2 closed at a new record with a gain of 1.75%. The bulk of today’s big gainers can be grouped into one dominant theme: **semiconductors and AI infrastructure**, with names like INTC, MU, QCOM, LRCX, AMBA, WDC, SNDK, AMD, and ASML leading the charge. Within that group, **memory and storage stocks (MU, WDC, SNDK)** are showing the strongest momentum, driven by surging demand tied to AI data center buildouts. Hyperscalers continue to spend aggressively, tightening supply and improving pricing power, which is helping shift the narrative for memory from a purely cyclical story to a more structural AI-driven demand trend. At the same time, **semiconductor equipment companies (LRCX, ASML)** are benefiting from increased capital expenditures by chipmakers looking to meet that demand, reinforcing the idea that this cycle has further to run. On the compute side, **INTC, AMD, and QCOM** are participating as part of a broader catch-up and re-rating trade, supported by improving earnings outlooks and the growing need for processing power tied to AI workloads. Meanwhile, smaller names like **AMBA** are riding the thematic wave of edge AI and momentum-driven flows. Outside of tech, the only notable group is **airlines (AAL, ALK, UAL)**, which appear to be benefiting from a more general risk-on tone, along with expectations for stable /lower fuel costs and resilient travel demand. Below is the list of some of the biggest gainers for the day: - Intel (INTC): +12.95% - SanDisk (SNDK): +11.98% - Micron (MU): +11.10% - Qualcomm (QCOM): +10.76% - Lam Research (LRCX): +6.66% - Ambarella (AMBA): +5.18% - Western Digital (WDC): +5.18% - American Airlines (AAL): +4.74% - Alaska Air (ALK): +4.17% - ASML ADR (ASML): +4.06% - AMD (AMD): +4.02% - United Airlines (UAL): +4.00% **Bottom line:** the move is not random. It is being driven by a coordinated shift toward **AI-led capital spending and earnings strength across the semiconductor ecosystem**, with memory and equipment stocks leading, compute names catching up, and cyclical sectors like airlines tagging along as secondary beneficiaries of improved market sentiment. ### Related Stocks - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [WDC.US](https://longbridge.com/en/quote/WDC.US.md) - [SOXX.US](https://longbridge.com/en/quote/SOXX.US.md) - [QQQ.US](https://longbridge.com/en/quote/QQQ.US.md) - [FTXL.US](https://longbridge.com/en/quote/FTXL.US.md) - [TQQQ.US](https://longbridge.com/en/quote/TQQQ.US.md) - [SOXQ.US](https://longbridge.com/en/quote/SOXQ.US.md) - [XSD.US](https://longbridge.com/en/quote/XSD.US.md) - [ARTY.US](https://longbridge.com/en/quote/ARTY.US.md) - [SOXL.US](https://longbridge.com/en/quote/SOXL.US.md) - [QQQM.US](https://longbridge.com/en/quote/QQQM.US.md) - [QCMU.US](https://longbridge.com/en/quote/QCMU.US.md) - [DRAM.US](https://longbridge.com/en/quote/DRAM.US.md) - [INTW.US](https://longbridge.com/en/quote/INTW.US.md) ## Related News & Research - [Why Micron stock just popped again](https://longbridge.com/en/news/285232172.md) - [Top Western Digital Executive Makes Major Insider Move](https://longbridge.com/en/news/285296400.md) - [Micron vs. SanDisk: Which stock is the better buy for the AI boom?](https://longbridge.com/en/news/284976473.md) - [Western Digital Q3 revenue beats on AI-driven demand](https://longbridge.com/en/news/284827821.md) - [BUZZ-Street View: Wall Street warms to Qualcomm's data center chip push](https://longbridge.com/en/news/284781356.md)