S&P 500 Hits Record as AI Enthusiasm Drowns Out Hotter Inflation
Traders work on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergUS equities rallied back to all-time highs on Wednesday as dip buyers overlooked rising cost pressures to snap up profit-generating technology firms after a pullback.
The S&P 500 Index gained 0.6% in New York, while the Nasdaq 100 Index jumped 1%. Chipmakers, opticals and storage firms led the advance as supply for global memory chips, critical to artificial intelligence infrastructure build-outs, tightened further. Nvidia Corp. rose 2.3% as Chief Executive Officer Jensen Huang joins President Donald Trump on his visit to China.