US Stocks Close: S&P 500 and Nasdaq Hit New Highs, Several Storage Chip Stocks Surge

On May 12, the three major US stock indices closed slightly higher, with the Dow Jones up 0.19%, the S&P 500 up 0.19%, and the Nasdaq up 0.1%. The S&P 500 and Nasdaq both reached new all-time highs. Storage chip stocks continued to rise, with Qualcomm up over 8%, Western Digital up more than 7%, Micron Technology up over 6%, Intel up over 3%, and Nvidia up about 2%, all achieving record closing highs. Optical communication stocks also saw significant gains, with POET Technologies soaring over 26%, Applied Optoelectronics up over 24%, Lumentum rising over 16%, Credo Technology up over 11%, and Ciena up over 6%.