S&P 500 and Nasdaq Notch Records; AMD Results Spark AI Stock Rally
AMD and Super Micro led a chip rally as earnings beats and AI demand pushed semiconductor stocks higher.
- On Wednesday, the S&P 500 surged 1.45% to 7,364.72 and the Nasdaq Composite gained 2.01% to 25,834.88, both hitting record closes amid easing geopolitical tensions and a rally in artificial intelligence stocks.
- After Iran said it was reviewing a new U.S. proposal, global stocks surged and oil prices slumped about 8% to $101 a barrel, easing inflationary concerns that had weighed on markets.
- Advanced Micro Devices Inc. soared 16.9% and Super Micro Computer Inc. rallied 16.3% on Wednesday, driven by strong earnings beats and robust demand for data center chips tied to artificial intelligence infrastructure.
- Over 80% of S&P 500 companies reporting through May 1 exceeded profit estimates, positioning the index for its strongest earnings growth in more than four years, according to LSEG I/B/E/S data.
- Investors await Friday's non-farm payrolls report, with economists surveyed by Reuters expecting U.S. jobs to increase 62,000 in April following March's rebound of 178,000, according to consensus estimates.
22 Articles
22 Articles
S&P 500 Gains Unleashed on Chip Stock Strength, Falling Oil and Return to Optimism
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Stock Market Closes At Another All-Time High Under Trump
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Times of India
The Economic TimesUS stocks today: S&P 500 and Nasdaq notch records; AMD results spark AI stock rally
The S&P 500 and Nasdaq hit record highs Wednesday, fueled by Middle East conflict resolution hopes and strong AMD earnings boosting AI stocks. Global stocks surged as oil prices dropped, with S&P 500 companies showing robust profit growth driven by AI advancements. The economy shows stability, with strong private payrolls and positive outlooks from companies like Disney and Uber.
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