S&P 500 and Nasdaq Close at Record Highs as Nvidia Sparks Tech Rally

U.S. stocks closed higher on Thursday, with the S&P 500 and Nasdaq Composite both ending at fresh all-time highs as investors continued to favor technology shares. The rally was led by Nvidia, which climbed sharply after reporting strong demand for its artificial intelligence chips, reinforcing optimism around the sector’s growth prospects.

The Dow Jones Industrial Average also advanced, though more modestly, as gains in several companies reporting solid earnings helped support the broader market. The upbeat session came despite lingering concerns about inflation and the outlook for interest rates ahead of the Federal Reserve’s upcoming policy meeting.

Market participants appeared willing to look past those risks for now, focusing instead on resilient corporate results and continued enthusiasm for AI-related stocks. Nvidia’s latest move added to a year-long surge in semiconductor and cloud-computing names, which have been among the biggest beneficiaries of investor interest in artificial intelligence.

Analysts said the day’s gains reflected a market still being driven by strong earnings momentum and confidence in large-cap technology leaders, even as questions remain about the timing of any Fed rate cuts. For now, the major indexes remain near record territory, underscoring the strength of the current bull run.