S&P 500 Hits All-Time High In Late-Day Move – US Market Wrap

A rise in chipmakers propelled stocks to all-time highs, as talks between the United States and Russia bolstered expectations of a settlement to the Ukraine conflict. Despite a drop in most major technology stocks, the S&P 500 surpassed its January high.

Top officials from the United States and Russia met for the first round of negotiations on the Ukraine conflict, raising the prospect of wider cooperation.

The S&P 500 increased by 0.2%. The Nasdaq 100 gained 0.2%. The Dow Jones Industrial Average fluctuated. An index of chipmakers rose 1.7%.

Intel jumped on breakup rumours. Super Micro Computer surged on an optimistic outlook. Walgreens Boots Alliance rose when CNBC reported that Sycamore Partners’ takeover is still alive. Meta ended a 20-day surge.

The yield on 10-Yr Treasuries increased seven basis points to 4.55%. A dollar index gained 0.2%. Bitcoin fell 2.3%.