Nasdaq and S&P 500 surge to new record highs driven by tech companies

U.S. stock futures moved higher early Thursday after technology stocks pushed the S&P 500 and Nasdaq to fresh record highs. Semiconductor stocks such as Nvidia and Micron Technology remained major drivers of market gains amid ongoing optimism around AI-related growth.

During Wednesdays session, the S&P 500 and Nasdaq both closed at new record highs of 7,451 and 29,425 respectively, while the Dow Jones slipped slightly. Markets are now watching key economic data including retail sales and weekly jobless claims, alongside more corporate earnings reports.

Asia-Pacific markets traded mixed on Thursday. Japan‘s Nikkei 225 rose 0.2%, while South Korea’s Kospi gained 0.4%. Hong Kongs Hang Seng Index advanced 1.3%. Shares of Samsung Electronics jumped more than 5% to a new record high.

In Europe, data released this morning showed that the U.K. economy grew 0.6% in the first quarter of 2026, matching expectations and accelerating from revised growth of 0.2% in the previous quarter. Growth was mainly driven by broad-based strength in the services sector, while production and construction activity also improved.

However, higher U.S. inflation data limited gains in gold. U.S. producer prices rose 6% on a yearly basis in April, the fastest pace in four years, driven largely by higher oil prices linked to Middle East tensions. Monthly PPI inflation also came in much hotter than expected.

The stronger inflation data reinforced expectations that the Federal Reserve may keep interest rates elevated for longer to fight inflation, which weighs on gold. Investors are also watching the upcoming U.S. retail sales report for further clues on the strength of the economy and the Feds next policy moves.