this S&P 500 Index rise to fresh record As the darling of artificial intelligence Nvidia Continue to reach new highs and surpass Microsoft to become the most valuable listed company.
The broader market index rose 0.25% to close at 5,487.03 points, while Nasdaq Index It rose slightly by 0.03% to close at 17,862.23. The tech-heavy index also closed at a record high. this Dow Jones Industrial Average It rose 56.76 points, or 0.15%, to close at 38,834.86 points.
“You’re going to see investors trying to ride this train with Nvidia and the usual suspects as long as possible,” said Ken Mahoney of Mahoney Asset Management. Now you also have those second-tier names” involved. “Money is not leaving the market, but I do feel a rotation of leaders this quarter.”
Nvidia The stock price rose 3.5%, surpassing Microsoft to become the most valuable public company, and continuing its milestone development after the market value exceeded $3 trillion earlier this month and easily surpassed Apple. The chipmaker’s shares have soared 174% since the start of the year as enthusiasm for artificial intelligence shows no signs of abating.
Some semiconductor stocks also rose in response, including Qualcomm and British Semiconductor Growth was 2.2% and 1.4% respectively. Micron Technology up 3.8%. Falling U.S. Treasury yields also appealed to the industry as a weaker-than-expected retail sales report raised hopes of an economic slowdown and a rate cut by the Federal Reserve.
Chris Zaccarelli, chief investment officer at the Independent Advisor Alliance, said: “Without consumers, the bull market will stall, so investors need to see more consumer spending rather than material spending. Slow down, as this report may indicate.
Tuesday’s moves followed gains on Wall Street that pushed the S&P 500 and Nasdaq to record highs and closing levels.
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