watch
now
The
S&P
500
rose
to
a
fresh
record
as
artificial
intelligence
darling
Nvidia
continued
its
march
to
new
highs,
topping
Microsoft
as
the
most
valuable
public
company.
The
broad
market
index
added
0.25%
to
close
at
5,487.03,
while
the
Nasdaq
Composite
inched
up
0.03%
to
end
at
17,862.23.
The
tech-heavy
index
also
closed
at
a
record.
The
Dow
Jones
Industrial
Average
rose
56.76
points,
or
0.15%,
to
settle
at
38,834.86.
“You
see
investors
trying
to
ride
this
train
as
long
as
they
can
with
Nvidia
and
the
usual
suspects,
but
now
you
also
got
those
second-tier
names”
participating,
said
Mahoney
Asset
Management’s
Ken
Mahoney.
“Money
isn’t
leaving
the
market,
but
I
do
sense
a
rotation
out
of
the
leaders
for
this
quarter.”
Nvidia
jumped
3.5%
to
surpass
Microsoft
as
the
most
valuable
public
company,
and
continue
its
milestone
run
after
topping
a
$3
trillion
market
cap
and
breezing
past
Apple
in
value
earlier
this
month.
The
chipmaker
has
surged
174%
since
the
start
of
the
year
as
enthusiasm
for
AI
shows
no
signs
of
dwindling.
Some
semiconductor
stocks
also
rose
in
sympathy,
with
Qualcomm
and
Taiwan
Semiconductor
up
2.2%
and
1.4%,
respectively.
Micron
Technology
gained
3.8%.
The
sector
also
caught
a
bid
from
declining
Treasury
yields
on
the
heels
of
weaker-than-expected
retail
sales
report
that
spurred
hopes
for
some
economic
slowing
and
Federal
Reserve
rate
cut
rates.
“Without
the
consumer,
this
bull
market
is
going
to
stall
out,
so
investors
need
to
see
more
consumer
spending
and
not
a
material
slowdown,
which
this
report
could
be
indicating,”
said
Chris
Zaccarelli,
chief
investment
officer
at
Independent
Advisor
Alliance.
Tuesday’s
moves
follow
a
positive
session
on
Wall
Street
that
propelled
the
S&P
500
and
Nasdaq
to
all-time
highs
and
record
closing
levels.
