Major US Stock Indexes Hit Records as Nvidia Rekindles AI Rally
- S&P 500, Nasdaq 100, Dow Jones gain on chipmaker’s results
- Promise of technology boom pushes stock prices higher
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All three major American stock indexes stormed to fresh all-time highs Thursday as Nvidia Corp.’s results rekindled faith that breakthroughs in artificial intelligence will boost profits and give stock prices further room to run.
The chipmaker’s blowout earnings report sparked a broad-based rally across Wall Street, sending the S&P 500 Index to its 12th record close of 2024 and leaving it up nearly 24% since late October. The Nasdaq 100 Index soared 3% while the Dow Jones Industrial Average — which is considered a proxy for US economic health — eclipsed 39,000 for the first time.