S&P 500 and Nasdaq Hit Record Highs on AI Strength
Wall Street indexes rose on Monday as the semiconductor sector jumped 2.5 percent to drive the S&P 500 and Nasdaq to new all-time highs. While rising crude prices and stalled U.S.-Iran peace talks fueled inflation worries, strong corporate earnings and artificial intelligence demand supported the broader market rally.
The S&P 500 and Nasdaq reached record closing highs as artificial intelligence momentum offset rising crude prices and geopolitical tensions. The S&P 500 rose 0.38% to 7,427.07, while the Nasdaq Composite gained 0.34% to 26,336.86. The Dow Jones Industrial Average rose 0.27% to 49,743.44. Investors are weighing strong corporate earnings against inflation risks stemming from stalled peace negotiations in the Middle East.
### AI Momentum Drives Semiconductor Gains Chipmakers led the market higher, with the PHLX Semiconductor index jumping 2.5%. INTEL CORP rose 2% following a reported chip-making agreement with APPLE INC. QUALCOMM INC jumped 7.6% to a record high.
