S&P 500 Hits Record High Amid Nvidia-Driven AI Rally
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The S&P 500 breached 6,500 for the first time following Nvidia's earnings report, climbing 0.3% intraday. The Nasdaq Composite advanced 0.6%, while the Dow Jones Industrial Average edged up 81 points. Nvidia's 56% revenue growth—though slightly missing data center expectations—reaffirmed the AI sector's momentum.
Traders shrugged off minor weaknesses, including light guidance on China-related chip sales. Melius Research noted the company's robust Core growth outside China, suggesting sustained upside. Semiconductor stocks initially dipped but recovered as analysts turned bullish on the sector's prospects.
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