A sharp technology-led rally that has lifted the U.S. stock market to record peaks will be tested next week by fresh inflation data, which could build the case for the Federal Reserve to raise interest rates.
The S&P 500 this week posted its first all-time closing high in two months, propelled by tech and semiconductor shares that had stumbled in between the record peaks. Over a four-session stretch ending on Tuesday, the benchmark index gained 5.75%, its biggest four-day surge since April 2025.
