Wall Street reached record highs despite a sell-off for Oracle and concerns about a potential bubble in artificial intelligence technology. The S&P 500 and Dow Jones Industrial set records, while the Nasdaq slipped due to weakness in AI stocks. The market rebounded following worries about interest rates and AI chip investments, with the Fed cutting rates again. Lower interest rates benefit small companies, and banks and economy-dependent companies rallied. Disney and Eli Lilly saw gains, but Oracle’s spending on AI raised doubts and Nvidia fell. Oxford Industries struggled, citing value-driven customers, while the bond market remained steady amid rising unemployment claims. In global markets, Europe rose while Japan’s Nikkei fell due to SoftBank’s AI investments.

Read more at Yahoo Finance: The US stock market hits record highs, even as worries about an AI bubble continue