S&P 500 Hits Record High Amid Merger Buzz and Strong iPhone Demand
The S&P 500 climbed 0.5% to a record close, fueled by Optimism around a potential Paramount-Skydance bid for Warner Bros. Discovery and robust iPhone 17 sales. Paramount shares surged 5.8% as deal terms circulated, while Apple gained on reports of strong global demand for its latest device.
DexCom shares tumbled after a short seller raised concerns about accounting practices and product issues. U.S. equities extended their rally following the Federal Reserve's rate cut and progress in U.S.-China trade talks, with the Dow and Nasdaq also posting gains.
Market momentum reflects investor confidence in corporate deals and consumer tech demand, though sector-specific risks remain. The media and tech sectors drove today's advance, while healthcare lagged.
