U.S. stocks closed modestly higher on July 15, with megacap technology shares leading a broad advance as softer inflation data revived expectations that the Federal Reserve can keep policy steady.

The S&P 500 rose 0.38% to 7,572.40, while the Nasdaq Composite gained 0.62% to 26,269.23. The Dow Jones Industrial Average added 0.29%, or about 150 points, to finish at 52,658.64, as investors rotated back into risk assets ahead of a busy stretch of economic data.

The move extended a recent pattern in which cooler price readings lift equities by easing fears that sticky inflation would force the central bank to hold rates higher for longer. Traders have grown sensitive to every print, and the latest figures offered a reprieve from earlier surprises that had rattled sentiment.

Beneath the index gains, the session carried crosscurrents. Chip and semiconductor names swung on debates over whether AI valuations have run too far, even as stronger results from the chip supply chain pointed to resilient demand. Oil prices, meanwhile, gyrated on geopolitical developments that kept energy in focus.

Attention now turns to upcoming labor and sentiment data, including jobless claims due later in the week, as the Fed maintains a data-dependent stance. With indexes near elevated levels, the market's next leg will hinge on whether soft data and patient policy can keep the rally intact.

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