9 sources·Business

U.S. Stock Indexes Hit Record Highs Amid AI Boom and Tech Earnings

U.S. stock markets reached new peaks, driven by strong tech earnings and positive sentiment around AI investments, while caution lingers over mixed retail signals.

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Updated: Dec 4th, 2024, 10:17 PM ET

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U.S. stock indexes set new records as the S&P 500 climbed 0.6% to 6,086.49, the Dow rose 0.7% to 45,014.04, and the Nasdaq increased 1.3% to 19,735.12. The upturn was bolstered by impressive earnings from Salesforce and Marvell Technology, with AI investments driving their performance. However, retail spending remains mixed, and a narrow jobs report suggests slower hiring, raising speculation about potential Federal Reserve interest rate cuts. Analysts anticipate a cautious approach from the Fed in upcoming meetings amid overall confidence in economic stability.

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