Big Tech's AI Bets Propel Record Highs in S&P 500 and Nasdaq
The S&P 500 and Nasdaq hit record highs as significant earnings from Meta and Microsoft showcase the success of their artificial intelligence investments, driving Big Tech forward. The Dow Jones also saw a notable increase, highlighting a positive movement across major stock indices on Thursday.
In a significant market move, the S&P 500 and Nasdaq surged to record highs on Thursday. This upswing came on the heels of impressive earnings reports from tech giants Meta and Microsoft, proving the effectiveness of their major investments in artificial intelligence.
The tech sector's robust performance was mirrored in broader market activity, with the Dow Jones Industrial Average climbing 204.5 points, marking a 0.46% increase as it opened at 44,665.82. At the same time, the S&P 500 saw a rise of 64.1 points, or 1.01%, opening at 6,427.02.
Meanwhile, the tech-heavy Nasdaq Composite surged 327.8 points, or 1.55%, reaching 21,457.48 at the opening bell, underscoring the market's confidence in Big Tech's AI strategies.
(With inputs from agencies.)
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