Closing Bell: S&P 500 Hits an All-Time High Ahead of the Holidays

Key Points

• Major indices posted modest gains in a low-volume, holiday-shortened session, with defensives leading—Consumer Staples, Real Estate, and Utilities outperformed
• Intel shares moved lower after reports that Nvidia halted testing tied to Intel’s 18A process following subpar results.

Markets continued to move higher during the holiday-shortened trading session. The S&P 500 (SPX) gained 0.32%, while the Nasdaq-100 (NDX) advanced 0.27%. Small-cap stocks also moved higher, with the Russell 2000 (RUT) closing up 0.27%. Consumer Staples, Real Estate, and Utilities led the advance, while Energy was the only sector to finish the day in the red.

Intel Moves Lower After Nvidia-Related Reports

Reports surfaced that Nvidia has halted testing related to leveraging Intel’s 18A chip process after initial tests reportedly produced subpar results. The 18A manufacturing process is a core pillar of Intel’s foundry expansion strategy. Adding pressure to the stock, comments from a Commerce Department official suggested that while the U.S. government gave the company an opportunity to succeed, the chipmaker is not considered “too strategic to fail.”

Key Market Events for Tomorrow

• None

Notable Earnings for Tomorrow

• Premarket: N/A
• Postmarket: N/A

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