US stock indices hit new highs on NVIDIA's stellar results
The S&P 500 and Dow Jones both closed at all-time highs on Thursday, powered by huge demand for artificial intelligence tech.
NVIDIA's revenue jumped 56%, showing just how much AI is shaping the market right now.
NVIDIA's results boost tech stocks
NVIDIA's strong results gave a boost to other big tech names—Alphabet climbed 2%, Amazon was up 1%, and Broadcom nearly 3%.
The overall market followed suit, with the S&P 500 notching its second straight record close at 6,501.86.
Good economic news calms growth worries
Good economic news—like fewer people filing for unemployment and stronger Q2 company profits—helped calm worries about growth.
Plus, most traders now expect the Federal Reserve to cut interest rates in September, which is adding to the positive mood.
AI leads gains in some sectors
AI continues to lead gains in sectors like communication services and energy.
Still, not every stock is winning—Nike and Hormel Foods slipped after weaker forecasts.
All eyes are now on upcoming inflation data that could sway Fed decisions and steer where markets head next.