Wall Street barreled to all-time highs as its frenzy around artificial-intelligence technology keeps sending stocks higher.
The S&P 500 jumped 1.2% Wednesday to beat its record set two weeks ago. The Nasdaq composite rallied even more, 2%, to set its own all-time high. The Dow Jones Industrial Average, which has less of an emphasis on tech, lagged the market with a gain of 0.2%.
The rally sent the total market value of Nvidia, which has become the poster child of the AI boom, above $3 trillion for the first time. Treasury yields eased following mixed data on the economy.
On Wednesday:
The S&P 500 rose 62.69 points, or 1.2%, to 5,354.03.
The Dow Jones Industrial Average rose 96.04 points, or 0.2%, to 38,807.33.
The Nasdaq composite rose 330.86 points, or 2%, to 17,187.90.
The Russell 2000 index of smaller companies rose 29.93 points, or 1.5%, to 2,063.87.
For the week:
The S&P 500 is up 76.52 points, or 1.4%.
The Dow is up 121.01 points, or 0.3%.
The Nasdaq is up 452.89 points, or 2.7%.
The Russell 2000 is down 6.25 points, or 0.3%.
For the year:
The S&P 500 is up 584.20 points, or 12.2%.
The Dow is up 1,117.79 points, or 3%.
The Nasdaq is up 2,176.55 points, or 14.5%.
The Russell 2000 is up 36.80 points, or 1.8%.
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