U.S. stock indexes reached more records after tech companies talked up how much artificial intelligence is boosting their results.
The S&P 500 climbed 0.6% Wednesday to add to what looks to be one of its best years of the millennium. The Dow Jones Industrial Average gained 0.7%, while the Nasdaq composite added 1.3% to its own record.
Salesforce pulled the market higher after highlighting its artificial-intelligence offering for customers. Marvell Technology jumped even more after saying it’s seeing strong demand from AI. Treasury yields eased, while bitcoin climbed after President-elect Donald Trump nominated a crypto advocate to head the Securities and Exchange Commission.
On Wednesday:
The S&P 500 rose 36.61 points, or 0.6%, to 6,086.49.
The Dow Jones Industrial Average rose 308.51 points, or 0.7%, to 45,014.04.
The Nasdaq composite rose 254.21 points, or 1.3%, to 19,735.12.
The Russell 2000 index of smaller companies rose 10.22 points, or 0.4%, to 2,426.56.
For the week:
The S&P 500 is up 54.11 points, or 0.9%.
The Dow is up 103.39 points, or 0.2%.
The Nasdaq is up 516.95 points, or 2.7%.
The Russell 2000 is down 8.16 points, or 0.3%.
For the year:
The S&P 500 is up 1,316.66 points, or 27.6%.
The Dow is up 7,324.50 points, or 19.4%.
The Nasdaq is up 4,723.76 points, or 31.5%.
The Russell 2000 is up 399.49 points, or 19.7%.
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