Stock market today: S&P 500 clinches fresh record amid GDP data, chip stock gains

Given the strong economic data from the US and positive earnings reports, particularly from Micron, the general sentiment in the market is leaning towards growth. The continuing support from China for economic stimulus indicates a potential uplift in global markets, and technology stocks, especially those in the semiconductor sector, could continue to thrive given their central role in the ongoing tech innovation and AI demand.

Super Micro Computer's stock is under pressure due to the ongoing DOJ investigation, which raises concerns about potential legal challenges and impacts on its business operations. The situation appears precarious, and unless the company can quickly resolve these issues, further declines in stock price are likely as investor confidence erodes.

The overall optimistic outlook for the economy, highlighted by the record high in the S&P 500 and positive sentiment in the technology sector, suggests that ETFs tracking these markets could continue to perform well. In particular, the technology sector ETF could benefit from the ripple effects of Micron's strong performance and overall positive market conditions.

The rising interest in Chinese stocks due to renewed stimulus measures suggests a bullish outlook for ETFs focused on Chinese markets. The KraneShares CSI China Internet ETF, which has already shown significant gains, may continue its upward trajectory as more investors look for exposure to rebounding sectors in China.