S&P 500 Extends Record Amid Tech Rally
Stocks in the US closed higher on Thursday, with the S&P 500 climbing to fresh record highs above the 6,500 mark, the Nasdaq 100 rose 0.6% and the Dow added 72 points.
Market sentiment was supported by strong economic data and ongoing enthusiasm for artificial intelligence, despite mixed signals from Nvidia’s latest results. The chipmaker reported a 56% surge in quarterly revenue but excluded potential China sales from its forecast, leaving the stock slightly lower even as analysts raised price targets and reaffirmed confidence in AI-driven growth.
Other technology names, including Broadcom, Micron, Microsoft, Meta, and Amazon, advanced, highlighting the sector’s momentum. US GDP was revised up to a 3.3% annualized pace in the second quarter, and jobless claims came in lower than expected, easing recession concerns.
On the earnings front, CrowdStrike gained 4.6%, HP rose 1.9%, and Snowflake surged 20.2% on strong results.
Source: Trading Economics