GLOBAL MARKETS-Stocks Rise to Records with Micron Rally; Oil Prices Slide

GLOBAL MARKET - NEW YORK. A widely followed global stock index and the S&P 500 hit record highs on Thursday after chipmaker Micron Technology's upbeat forecast, while oil dropped on a report Saudi Arabia plans to dump its unofficial crude price target of $100 a barrel.

Micron's forecast late Wednesday bolstered optimism about demand for chips used for artificial intelligence computing. Shares of other chipmakers also rose, including Nvidia, which was up 1%.