AI Stock Surge Drives Wall Street to Record Levels
Wall Street indices rose, led by gains in the artificial intelligence sector. Investors are focused on the upcoming interest rate decision from the Federal Reserve, with notable increases recorded in the S&P 500 and Nasdaq indices.
Wall Street closed Tuesday higher as AI-focused companies gained value. The S&P 500 index rose 0.6% to 7,722.60 points, while the Nasdaq index climbed 1.2% to 26,477.81 points. The Dow Jones Industrial Average saw a modest increase of 15.99 points, reaching 52,377.57.
At the center of the market activity was a 4% rise in Broadcom shares following a $63 billion financing deal with Anthropic. Nvidia shares gained 0.9%, while CoreWeave shares rose by 7.9%. General Motors shares increased by 5.5% following the decision to move from the New York Stock Exchange to the Nasdaq. Despite a loss during the summer period, JetBlue Airways shares showed a 19% increase, while Royal Caribbean Group rose 5.5% on earnings that exceeded expectations.
On the other hand, Boeing shares fell 10.7% due to larger-than-expected quarterly losses. Hilton Worldwide Holdings declined by 2.1%, and Sherwin-Williams fell by 2.7%. Ahead of the Federal Reserve's interest rate decision, the 10-year Treasury yield remained steady at 4.99%.
Sources
- usnews.com · Link