The stock market turned in another strong showing this week, with the S&P 500 (+2.3%) and Nasdaq Composite (+4.5%) climbing deeper into record territory as semiconductor and mega-cap technology stocks resumed their leadership role. Broader participation was also constructive, with the Russell 2000 (+1.7%) and S&P Mid Cap 400 (+1.7%) both advancing alongside large-cap benchmarks. The Nasdaq Composite outperformed meaningfully thanks to a powerful rally across chipmakers and AI-related names, while the DJIA (+0.2%) lagged amid weakness in defensive sectors and limited industrial participation.
Geopolitical tensions and fluctuations in oil prices remained a key backdrop throughout the week. Stocks opened lower on renewed hostilities between the US and Iran, briefly sending crude oil above $106/bbl, before easing tensions and improving negotiation optimism helped oil retreat sharply into week’s end. That reversal removed a key macro headwind and supported risk appetite, particularly in growth-oriented areas of the market.
Technology stocks were the clear leadership group throughout the week. The information technology sector surged 7.0%, amid another wave of AI-driven enthusiasm and strong earnings growth. NVIDIA climbed 8.4%, while names such as Advanced Micro Devices, Intel, Micron, and Sandisk posted outsized gains across the chip space.
Software stocks also delivered solid relative strength.
That same mega-cap strength carried into other growth-sensitive areas of the market. The communication services (+1.9%) and consumer discretionary (+1.8%) sectors both posted solid gains, reflecting continued leadership from large-cap platforms and consumer-facing tech-driven companies, reinforcing the theme that index gains were concentrated in the largest, most influential stocks.
Meanwhile, falling oil prices pressured the energy sector (-5.4%), which finished as the week’s weakest-performing S&P 500 sector. Utilities (-4.0%) and financials (-1.4%) also lagged as investors rotated toward higher-beta growth and technology exposure.
Overall, the week reinforced the market’s ongoing AI-driven leadership theme. Strong earnings growth, easing geopolitical fears, and renewed momentum across semiconductors and mega-cap technology stocks helped propel the S&P 500 and Nasdaq Composite further into record territory.
Nasdaq Composite: +4.5% week-to-date
S&P 500: +2.3% week-to-date
Russell 2000: +1.7% week-to-date
S&P Mid Cap 400: +1.7% week-to-date
DJIA: +0.2% week-to-date