Stocks Surge as S&P 500 Hits New Highs Amid Economic Data and Fed Expectations

The stock market rally saw modest gains last week, with the S&P 500 hitting a new high and the Nasdaq approaching its own. Several chip stocks, including Advanced Micro Devices (AMD), Nvidia (NVDA), Arm Holdings (ARM), Broadcom (AVGO), and Taiwan Semiconductor (TSM), are in buy zones or near buy points. Tesla (TSLA) continues to trade tightly and is approaching aggressive entry points. The Federal Reserve meeting this week could provide insight into potential rate cuts. Additionally, the FDA approved a gene-editing treatment from Crispr Therapeutics (CRSP) and Vertex Pharmaceuticals (VRTX), causing CRSP stock to reverse lower.