S&P 500 nears record on steady US jobs and AI
The S&P 500 is close to breaking records, powered by steady job growth and a surge in AI-focused stocks.
The index is riding a six-week winning streak as the US job market stays solid: payrolls have grown for two straight months, and unemployment has not budged.
Semiconductor shares up nearly 10%
AI and chipmaker stocks are leading the charge, with semiconductor shares up nearly 10% since last Friday.
Plus, a huge 82% of S&P 500 companies beat their first-quarter earnings forecasts.
Analysts say it is this mix of strong company results and excitement around AI that is keeping markets buzzing.
Federal Reserve expected to hold rates
The Federal Reserve is not expected to change interest rates just yet, as it watches how things like oil prices and global tensions play out.
Its next move will depend on how inflation and world events unfold.