Dow tops 50,000 as stocks rally on AI and earnings
Big day on Wall Street: the S&P 500 and Nasdaq hit new highs, while the Dow Jones crossed a historic 50,000.
What's driving this? Strong company earnings and lots of excitement around artificial intelligence (AI) investments.
NVIDIA nears $6T valuation
AI is having a moment: NVIDIA's value shot up close to $6 trillion after a weeklong surge, and Cisco jumped 13% thanks to an upbeat forecast.
Retail sales are also up for the third month in a row, showing people are still spending even with higher energy prices.
Plus, AI startup Cerebras Systems saw its stock soar 68% on its debut day, a sign that investors can't get enough of this tech wave.
Analysts say rally has legs
Even with these big gains, investors are staying optimistic about where things go from here.
Analysts think this rally has legs because company profits look solid and economic signals remain positive, so there's hope that markets could keep climbing in the months ahead.