From Nasdaq:

The S&P 500 and Dow Jones Industrial Average closed at record highs, fueled by AI stocks like Nvidia. Nvidia’s market value hit $2 trillion post-earnings, adding $277 billion in a day. The tech giant and Big Tech’s performance overshadowed Fed rate concerns. Other AI-related stocks like Super Micro Computer also saw gains.

Despite Nvidia’s dominance, other Big Tech stocks like Apple, Tesla, and Meta Platforms fell on Friday. The S&P 500 ended with a slight gain, Nasdaq slipped, and the Dow Jones rose. Utilities, materials, and industrials were among the top sectors. Carvana reported its first annual profit, while Warner Bros Discovery faced a larger quarterly loss due to Hollywood strikes.

Block, led by Jack Dorsey, saw a jump in its stock after forecasting higher earnings. The payments firm is optimistic about consumer resilience. Overall, the week was marked by the AI sector’s strength in driving market performance, with tech stocks leading the way.



Read more: US STOCKS-S&P, Dow edge to another record closing high as Nvidia momentum endures