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S&P 500 Hits Record on AI Chip Surge, Risks Loom

5/9/2026

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Summary

Story summary

U.S. equities surged as momentum buying lifted the S&P 500 to a record high.
A momentum index closed near its highest level since the 2008 crisis.
A chipmakers gauge rose 11% in five sessions amid the AI rally.
Barclays and Goldman Sachs warned the rally reached extremes that precede selloffs and stretched valuations.
Bloomberg Intelligence reported 85% of S&P 500 firms have beaten earnings estimates, the highest in five years.

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Story summary

U.S. equities surged as momentum buying lifted the S&P 500 to a record high.
A momentum index closed near its highest level since the 2008 crisis.
A chipmakers gauge rose 11% in five sessions amid the AI rally.
Barclays and Goldman Sachs warned the rally reached extremes that precede selloffs and stretched valuations.
Bloomberg Intelligence reported 85% of S&P 500 firms have beaten earnings estimates, the highest in five years.