Bloomberg finance reports that the S&P 500 closed at 5

Bloomberg Finance reports that the S&P 500 closed at 5,241.15, up 0.68% as tech stocks rallied on stronger-than-expected earnings from semiconductors. Analysts project further upside if inflation data remains in check, with potential 2–3% growth by next quarter. He’s not alone. Piper Sandler Chief Market Technician Craig Johnson urged investors Wednesday to consider “trimming gains, especially on over-extended momentum stocks,” seeing potential for a 3% to 4% pullback after five months of gains. Bloomberg Finance reveals industrial metal prices edged higher, benefiting mining stocks. Recovery in manufacturing output could extend commodity strength into early Bloomberg Finance shows U.S. homebuilder stocks gained after mortgage rates fell to 6.55%. The drop in rates is expected to rejuvenate housing market activity through Q3, according to sector experts.