{"slug": "gains-from-semiconductor-and-software-stocks-send-s-p-500-nasdaq-100-to-new", "title": "Gains from semiconductor and software stocks send S&P 500, Nasdaq 100 to new record closes", "summary": "The S&P 500 and Nasdaq 100 closed at new record highs Monday, powered by gains in semiconductor and software stocks following Nvidia's announcement of a new laptop superchip. The S&P 500 extended its winning streak to eight consecutive sessions, its longest in over a year, though market breadth was narrow as only the information technology and energy sectors rose. The rally was fueled by Nvidia's entry into the PC market and Jensen Huang's comments at Computex, which lifted a broad swath of software stocks including Microsoft, Salesforce, and ServiceNow.", "body_md": "# Gains from semiconductor and software stocks send S&P 500, Nasdaq 100 to new record closes\n\nAn Nvidia-fueled tech rally powered stocks to new records, though market breadth was weak as only the information technology and energy sectors rose.\n\nStocks continued to power higher, with the S&P 500 and Nasdaq 100 setting new record closing highs, though the Russell 2000 dipped. The S&P 500 has risen for its eighth straight session, its longest winning streak in over a year.\n\nGains were concentrated in the information technology and energy sectors, as [software stocks rallied](https://sherwood.news/markets/software-stocks-ai-jensen-huang-nvidia-computex/) and oil rose.\n\nOn Truth Social, President Trump posted that talks with Iran “[are continuing, at a rapid pace](https://www.reuters.com/world/middle-east/trump-says-he-has-not-heard-iran-that-they-are-suspending-talks-nbc-news-reports-2026-06-01/),” pushing back against reporting earlier in the day.\n\n**Moving higher:**\n\n[Nvidia](https://robinhood.com/us/en/stocks/NVDA/?source=sherwood)climbed after announcing its entry into the laptop market with a new PC “superchip” that will[power a fresh line of Windows laptops by Dell and HP](https://sherwood.news/markets/nvidia-jumps-after-entering-laptop-market-with-new-pc-superchip/).Nvidia’s new laptop superchip — which uses Arm architecture — sent shares of\n\n[Arm](https://robinhood.com/us/en/stocks/ARM/?source=sherwood)higher,[validating demand](https://sherwood.news/markets/nvidia-jumps-after-entering-laptop-market-with-new-pc-superchip/)for its IP in the PC market.Jensen Huang’s comments at Computex threw fuel on the AI software trade, lifting\n\n[Microsoft](https://robinhood.com/us/en/stocks/MSFT/?source=sherwood),[Salesforce](https://robinhood.com/us/en/stocks/CRM/?source=sherwood),[ServiceNow](https://robinhood.com/us/en/stocks/NOW/?source=sherwood),[Snowflake](https://robinhood.com/us/en/stocks/SNOW/?source=sherwood),[Oracle](https://robinhood.com/us/en/stocks/ORCL/?source=sherwood),[Atlassian](https://robinhood.com/us/en/stocks/TEAM/?source=sherwood),[Zscaler](https://robinhood.com/us/en/stocks/ZS/?source=sherwood),[Okta](https://robinhood.com/us/en/stocks/OKTA/?source=sherwood),[MongoDB](https://robinhood.com/us/en/stocks/MDB/?source=sherwood),[Figma](https://robinhood.com/us/en/stocks/FIG/?source=sherwood),[Asana](https://robinhood.com/us/en/stocks/ASAN/?source=sherwood), and[BigBear.ai](https://robinhood.com/us/en/stocks/BBAI/?source=sherwood)in a broad[software rally](https://sherwood.news/markets/software-stocks-ai-jensen-huang-nvidia-computex/).[Salesforce](https://robinhood.com/us/en/stocks/CRM/?source=sherwood)got an additional boost after Bloomberg reported its $50 million investment in Anthropic is now[valued at around $5 billion](https://www.bloomberg.com/news/articles/2026-06-01/salesforce-investment-in-anthropic-is-valued-at-about-5-billion).AI data center stocks surged after Dell delivered an Nvidia server to CoreWeave, with\n\n[Dell](https://robinhood.com/us/en/stocks/DELL/?source=sherwood),[CoreWeave](https://robinhood.com/us/en/stocks/CRWV/?source=sherwood),[Nebius](https://robinhood.com/us/en/stocks/NBIS/?source=sherwood), and[POET Technologies](https://robinhood.com/us/en/stocks/POET/?source=sherwood)all[climbing](https://finance.yahoo.com/markets/stocks/articles/michael-dell-says-were-thrilled-122755407.html).[IREN](https://robinhood.com/us/en/stocks/IREN/?source=sherwood)rose after closing a[$3.65 billion GPU financing](https://finance.yahoo.com/sectors/technology/articles/iren-closes-3-65-billion-130142458.html)facility to support its Microsoft contract.[Taylor Morrison](https://robinhood.com/us/en/stocks/TMHC/?source=sherwood)jumped after Berkshire Hathaway agreed to[buy the housebuilder for $6.8 billion](https://www.reuters.com/legal/transactional/berkshire-hathaway-buy-us-homebuilder-taylor-morrison-85-billion-2026-05-31/).[AMC](https://robinhood.com/us/en/stocks/AMC/?source=sherwood)and[Cinemark](https://robinhood.com/us/en/stocks/CNK/?source=sherwood)climbed on[record May movie theater attendance](https://sherwood.news/markets/amc-cinemark-climb-on-record-may-movie-theater-attendance/).[MGM Resorts](https://robinhood.com/us/en/stocks/MGM/?source=sherwood)surged after a report that Barry Diller is[planning a bid for the company](https://sherwood.news/markets/mgm-resorts-surges-after-report-barry-diller-is-planning-a-bid-for-the-company/).[IBM](https://robinhood.com/us/en/stocks/IBM/?source=sherwood)surged after Barclays initiated coverage with a $350 price target, while a[2025 video of Trump](https://sherwood.news/markets/ibm-surges-after-barclays-initiates-with-a-buy-video-of-trump-in-2025-saying-stock-will-go-up-a-lot-more-resurfaces/?utm_source=robinhood)saying the stock will “go up a lot more” went viral.[Nio](https://robinhood.com/us/en/stocks/NIO/?source=sherwood)gained after reporting a[62% surge in May deliveries](https://sherwood.news/markets/chinese-ev-makers-sales-mostly-rebound-in-may-with-nio-deliveries-surging-62/), with Chinese EV peer[XPeng](https://robinhood.com/us/en/stocks/XPEV/?source=sherwood)also climbing after sales mostly rebounded.[HP](https://robinhood.com/us/en/stocks/HPQ/?source=sherwood)climbed as one of the manufacturers set to[build laptops powered by Nvidia’s new chip](https://www.cnbc.com/2026/05/31/nvidias-new-chip-to-power-fresh-line-of-windows-laptops-by-dell-hp.html).[HYPE](https://robinhood.com/us/en/crypto/HYPE/?source=sherwood)hit an[all-time high](https://sherwood.news/crypto/hype-notches-all-time-high-and-its-treasury-companies-are-the-only-profitable-ones/)as its treasury companies proved to be the only profitable ones in the space, with treasury stock[Hyperliquid Strategies](https://robinhood.com/us/en/stocks/PURR/?source=sherwood)also climbing.\n\n**Moving lower:**\n\nNvidia’s entry into the laptop market with a new PC superchip pressured incumbent chipmakers, with\n\n[Intel](https://robinhood.com/us/en/stocks/INTC/?source=sherwood),[AMD](https://robinhood.com/us/en/stocks/AMD/?source=sherwood), and[Qualcomm](https://robinhood.com/us/en/stocks/QCOM/?source=sherwood)all[falling](https://www.cnbc.com/2026/05/31/nvidias-new-chip-to-power-fresh-line-of-windows-laptops-by-dell-hp.html)on the competitive threat.[Strategy](https://robinhood.com/us/en/stocks/MSTR/?source=sherwood)sank after revealing it[sold bitcoin](https://sherwood.news/crypto/strategy-sinks-after-revealing-it-has-sold-bitcoin-for-the-first-time-ever/?utm_source=robinhood).[Apple](https://robinhood.com/us/en/stocks/AAPL/?source=sherwood)slipped as Nvidia’s push into the laptop market raised questions about[competitive pressure on MacBooks](https://www.cnbc.com/2026/05/31/nvidias-new-chip-to-power-fresh-line-of-windows-laptops-by-dell-hp.html).[Bitcoin](https://robinhood.com/us/en/crypto/BTC/?source=sherwood)continued to dip after[closing May in the red](https://sherwood.news/crypto/bitcoin-closed-may-in-the-red-will-june-be-doom-and-gloom/?utm_source=robinhood), raising questions about whether June will bring more downside.", "url": "https://wpnews.pro/news/gains-from-semiconductor-and-software-stocks-send-s-p-500-nasdaq-100-to-new", "canonical_source": "https://sherwood.news/markets/market-wrap-2026-06-01-sp500-qqq/", "published_at": "2026-06-01 20:05:25+00:00", "updated_at": "2026-06-02 20:50:44.814020+00:00", "lang": "en", "topics": ["ai-chips", "artificial-intelligence"], "entities": ["Nvidia", "S&P 500", "Nasdaq 100", "Russell 2000", "Arm", "Dell", "HP", "Donald Trump"], "alternates": {"html": "https://wpnews.pro/news/gains-from-semiconductor-and-software-stocks-send-s-p-500-nasdaq-100-to-new", "markdown": "https://wpnews.pro/news/gains-from-semiconductor-and-software-stocks-send-s-p-500-nasdaq-100-to-new.md", "text": "https://wpnews.pro/news/gains-from-semiconductor-and-software-stocks-send-s-p-500-nasdaq-100-to-new.txt", "jsonld": "https://wpnews.pro/news/gains-from-semiconductor-and-software-stocks-send-s-p-500-nasdaq-100-to-new.jsonld"}}