28.08.202520:02:22UTC+00S&P 500 Extends Record Amid Tech Rally

On Thursday, U.S. stocks closed on a positive note, with the S&P 500 reaching new record levels beyond the 6,500 mark. The Nasdaq 100 saw a 0.6% increase, and the Dow Jones Industrial Average grew by 72 points. This upward momentum was fueled by robust economic data and sustained enthusiasm surrounding artificial intelligence, even as Nvidia's latest results offered mixed indications. The company reported a 56% rise in quarterly revenue but omitted potential sales from China in its forecast, which led to a slight dip in its stock despite analysts raising price targets and demonstrating confidence in AI-driven growth. Other technology sector leaders, such as Broadcom, Micron, Microsoft, Meta, and Amazon, also displayed gains, underscoring the sector's strength. Moreover, the U.S. GDP was revised upwards to a 3.3% annual growth rate for the second quarter, while jobless claims dropped lower than anticipated, alleviating fears of an impending recession. In earnings, CrowdStrike saw a 4.6% increase, HP's shares rose by 1.9%, and Snowflake experienced a remarkable 20.2% surge, driven by strong performance results.