2026.5.8 U.S. Stock Market Overview


Non-farm payrolls ease "stagflation" concerns, strong employment data and the AI chip trading boom jointly drive the U.S. stock market to new record highs, with the S&P 500 closing higher for the sixth consecutive week.
1. VIXY closed up 0.74%, at 27.05.
2. The S&P and Nasdaq hit record highs. The S&P 500 index closed up 61.82 points, up 0.84%, at 7,398.93 points, reaching a new closing record high after one trading day, with a weekly increase of 2.33%. The Dow Jones Industrial Average rose 12.19 points, up 0.02%, at 49,609.16 points, up 0.22% for the week. The Nasdaq gained 440.88 points, up 1.71%, at 26,247.076 points, setting a new closing record high, with a weekly increase of 4.51%.
3. Tesla rose 4.02%, Apple increased 2.02%, Nvidia gained 1.76%, Google A rose 0.68%, Amazon increased 0.56%, Meta fell 1.16%, Microsoft declined 1.36%.
4. The Nasdaq Golden Dragon China Index fell 0.47%, at 6,994.95 points, with a weekly increase of 1.56%. Among popular Chinese concept stocks, Artis rose 13.8%, Jinko Solar increased 5.3%, Xiaomi and Li Auto gained over 2%, Pinduoduo fell 2.9%.
5. Storage chip stocks led the gains, with SanDisk up over 16%, Micron Technology up over 15%, Intel nearly 14%, Seagate Technology up over 2%, all hitting new highs. Intel rose 13%, AMD increased 11%.
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