US stocks rise to records as Snowflake soars on AI
Business
US stocks broke records on Thursday, driven by strong company results.
The S&P 500 and Nasdaq both climbed, with Snowflake soaring 34.1% after saying AI was a strong driver of its business.
Dollar Tree, Kohl's, and Best Buy also saw big gains, making Wall Street feel pretty upbeat.
Investors hopeful amid persistent economic pressures
Despite the market excitement, tough economic issues remain.
Oil prices went up due to U.S.-Iran tensions, high mortgage rates slowed home sales last month, and household savings dropped to a four-year low, signaling financial strain for many families.
Still, investors seem hopeful that companies can keep performing even as these pressures continue.