# The S&P 500 and the Nasdaq notched record highs on Friday.

*genai · news · 2026-05-09 · Republic World*

## Key points

- Micron Technology and Sandisk shares soared over 15% each due to AI data center demand.
- The Philadelphia SE Semiconductor index has gained 55% in the second quarter so far.
- 83% of 440 S&P 500 companies beat Q1 earnings estimates, well above the 67% long-term average.
- Cloudflare will cut about 20% of its workforce after forecasting lower-than-expected Q2 revenue.
- Brent crude rose above $100 a barrel as Strait of Hormuz reopening hopes faded.

**Companies:** Nvidia, Micron Technology, Sandisk, Cloudflare, Trade Desk, CoreWeave, Expedia
**Countries:** United States, Iran

[Read the full story on Republic World](https://www.republicworld.com/business/sp-500-and-nasdaq-hit-record-highs-as-ai-boom-defies-middle-east-tensions-2026-05-09-123544)

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