Stock market today: Wall Street rallies to more records as big tech stocks keep soaring

NEW YORK — U.S. stocks rallied to more records as gains for technology companies keep pushing the market higher. The S&P 500 rose 0.8% Monday, beating the all-time high it set on Thursday. The Nasdaq composite climbed 1% to set a record of its own. The Dow Jones Industrial Average added 0.5%, but remains below its all-time high. Broadcom piled more onto its strong gains from last week and helped lift the market along with other technology companies benefiting from the frenzy around AI.

The only stock to rise more in the S&P 500 was Super Micro Computer, which leaped 8.2% to bring its gain for the year so far to a staggering 221.5%. The company, which sells server and storage systems used in artificial intelligence and other computing, is part of the supernova around AI that's been overshadowing almost everything else on Wall Street.

Such continued momentum for Big Tech stocks, along with easing pressure on inflation, has investors “cheering the ‘glass half full’ outlook” instead of focusing on the struggles of lower- and middle-income Americans, among other challenges, according to Anthony Saglimbene, chief market strategist at Ameriprise.

A report on Monday said manufacturing in New York state is still contracting, though not by as much as economists expected. Manufacturing has been one of the areas hardest hit by the Federal Reserve’s zeal to keep its main interest rate at the highest level in more than two decades.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Asian stocks advance after Wall Street closes out another winning weekHONG KONG (AP) — Asian stocks advanced Monday after U.S. stock indexes drifted around their records on Friday with the Dow Jones Industrial Average closing...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Wall Street opens mixed after its latest winning weekNEW YORK (AP) — Wall Street is opening on a quiet note following its latest winning week. The S&P 500 was up 0.1% in early trading Monday. The Dow Jones Industrial Average was little changed, and the Nasdaq composite was up 0.2%.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street drifts to a mixed close as Nasdaq notches another recordNEW YORK (AP) — U.S. stock indexes drifted to a mixed finish after a quiet day of trading, and the Nasdaq composite rose to another record. The Nasdaq climbed 0.7% Monday. The S&P 500 edged up by 0.1% to finish just short of its all-time high.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street holds steady near record levelsNEW YORK (AP) — U.S. stocks are holding relatively steady near their record levels as Wall Street appears to be headed for another quiet day. The S&P 500 was down 0.1% early Tuesday.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Nasdaq, S&P pop to records as Wall Street waits for Nvidia earningsInvestors biding their time for Nvidia results looked to retail earnings and Fedspeak for clues to the economy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Wall Street squeaks higher to set more recordsNEW YORK (AP) — U.S. stock indexes drifted higher to set more records following another quiet day of trading. The S&P 500 rose 0.3% Tuesday to surpass its record set last week. The Nasdaq composite added 0.
Source: SooToday - 🏆 8. / 85 Read more »