S&P 500 and Nasdaq Head for Record as Chip Stocks Rally Rages On

Stocks looked set to extend their record-breaking run on Wednesday after chip maker Advanced Micro Devices posted strong first-quarter earnings and President Donald Trump signaled there had been progress in peace talks between the U.S. and Iran. S&P 500 futures added 0.3%, and contracts tied to the tech-heavy Nasdaq 100 jumped 0.7%. The S&P 500 and Nasdaq both closed at all-time highs on Tuesday as chip stocks racked up sizable gains, and AMD’s rock-solid results could extend the rally.