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Stocks Soar as S&P 500 and Dow Hit Record Highs Amid Economic Optimism
Nvidia's 56% revenue surge boosted AI stocks, helping S&P 500 and Dow reach record closes amid strong economic data and high odds of Federal Reserve rate cuts.
- On Thursday, the S&P 500 index climbed 0.32% to 6,501.86 and the Dow Jones Industrial Average rose 0.16% to 45,636.90, marking record closes as investors reacted to Nvidia's strong AI-related spending report.
- Nvidia reported second-quarter revenue growth of 56%, but its forecast excludes potential China sales of H20 chips, and its $54b guidance slightly exceeds $53.1b expectations amid data-centre revenue concerns.
- Technology and AI names rallied as Snowflake surged 20% after raising its fiscal-2026 forecast, while Alphabet, Amazon, Broadcom, and Micron Technology also gained and the S&P 500 and Nasdaq posted dozens of new highs.
- Traders are now pricing in more than an 80% chance of an interest-rate cut next month as the Commerce Department revised Q2 GDP growth to an annualised 3.3%, bolstering risk appetite.
- Analysts reacted by raising 12-month price targets for Nvidia, citing extraordinary Blackwell GPU demand and AI spending projections to 2030, though China exclusions temper near-term enthusiasm.
18 Articles
18 Articles
Asian stocks mixed after Wall Street hits new highs
TOKYO, Japan — Asian stocks were mixed on Friday following recent strong gains and after the Dow and the S&P 500 hit new records. Modest gains on Wall Street came after an upward revision to US GDP for the second quarter. These were also thanks to bumper results from AI chip giant Nvidia. The upward GDP
Stocks Soar as S&P 500 and Dow Hit Record Highs Amid Economic Optimism
Stocks Soar as S&P 500 and Dow Hit Record Highs Amid Economic Optimism The Dow Jones Industrial Average and S&P 500 marked record highs on Thursday, buoyed by robust economic data and sustained interest in artificial intelligence technology. Nvidia shares dipped 0.8% amid China-related uncertainties, but the company forecasted a strong revenue outlook, hinting at continuing demand for AI capabilities.Investors reacted positively to the prospect …
S&P 500, Dow score record high closes as Nvidia results buttress AI rally
The S&P 500 and Dow Jones Industrial Average notched record high closes on Thursday after Nvidia's quarterly report fell short of investors' high expectations but confirmed that spending related to artificial intelligence infrastructure remains strong.
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