From Nasdaq, Inc.:

The S&P 500 hit an intra-day record high for the first time in two years, up 0.9% at 4,823.34 points. Chipmakers rallied to record highs after Taiwan Semiconductor Manufacturing projected 2024 revenue growth of more than 20% on booming demand for high-end chips used in AI applications. The S&P 500 has been nearly flat so far in 2024, while the Nasdaq is down less than 6% from its record high of 16,212.229 points. Optimism about resilience in the U.S. economy and potential gains from AI has buoyed markets.

Source: https://www.nasdaq.com/articles/us-stocks-wall-street-hits-a-record-intra-day-high-on-optimism-around-ai-2024-01-19



Read more: S&P 500 hits record intra-day high driven by chipmakers, megacaps