The index climbed 0.41% as 363 constituents advanced, offsetting a 12.59% drop in Broadcom and semiconductor declines.
The S&P 500 gained 0.41% as market breadth improved, with 363 of its constituents advancing—the strongest participation since April. The equal-weighted index hit a record high, signaling broad-based strength despite pressure on chipmakers.
Broadcom’s 12.59% plunge, following disappointing AI guidance, dragged the Philly semiconductor index down 2.15%, though it recovered from an early 6.29% drop. The index remains on track for a 10th consecutive weekly gain, a streak unseen since 1985.
Lower oil prices and yields supported risk sentiment, though Bitcoin fell 2.06% to $63,575, its lowest level since early February. Futures turned softer ahead of the session’s open.