**Market Overview: U.S. Stock Indices Rise Amid Economic Strength**
The U.S. stock market saw notable gains today, with the S&P 500 Index up 0.31%, the Dow Jones Industrial Average rising 1.21% to reach a new all-time high, and the Nasdaq 100 Index increasing by 0.55%. Chipmaker Micron Technology surged over 11% after predicting Q4 revenue of $50 billion, significantly above the consensus of $43.24 billion, fueling optimism in the AI sector. Other semiconductor stocks also rallied, including Qualcomm, which rose over 4% on similar bullish forecasts.
Economic indicators showed further signs of resilience, as Q1 GDP was revised up to an annualized rate of 2.1%, and weekly jobless claims fell by 12,000 to 215,000, better than the expected 225,000. May personal spending rose 0.7%, exceeding expectations, and the May PCE price index increased by 3.4% year-over-year, aligning with projections. However, the S&P briefly fell to a two-week low due to weakness in major tech stocks like Apple, which dropped over 5% after raising prices on its devices to counteract rising production costs.
In global markets, the Euro Stoxx 50 rose by 1.03%, and Japan’s Nikkei-225 surged 4.61%, as falling crude oil prices (WTI hit a 4-month low) and improving market sentiment spurred buying.
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