Gains from semiconductor and software stocks send S&P 500, Nasdaq 100 to new record closes

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.

Gains from semiconductor and software stocks send S&P 500, Nasdaq 100 to new record closes An Nvidia-fueled tech rally powered stocks to new records, though market breadth was weak as only the information technology and energy sectors rose. Stocks 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. Gains 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. On 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. Moving higher: 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 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 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 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. Moving lower: Nvidia’s entry into the laptop market with a new PC superchip pressured incumbent chipmakers, with 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.