pakistan
S&P 500 and Nasdaq hit records, boosted by AI and earnings optimism
Key takeaways
- Nvidia (NVDA.O), climbed 1.8%, while memory and storage sellers Micron Technology (MU.O), and Sandisk (SNDK.O), both rallied about 12%, lifted by strong demand from the rapid buildout of AI data centers.
- Still, despite the tech rally, most sectors in the S&P 500 were down for the day.
- The Philadelphia SE Semiconductor index (.SOX), jumped almost 5%, bringing its gain so far in the second quarter to 54%.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize The S&P 500 and the Nasdaq rallied to record highs on Friday, boosted by gains in Nvidia, Sandisk and other AI-related stocks, while a stronger-than-expected jobs report pointed to labor market resilience.
Nvidia (NVDA.O), climbed 1.8%, while memory and storage sellers Micron Technology (MU.O), and Sandisk (SNDK.O), both rallied about 12%, lifted by strong demand from the rapid buildout of AI data centers.
Still, despite the tech rally, most sectors in the S&P 500 were down for the day.
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