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Technology stocks led Wall Street after Nvidia, Salesforce and others reported fatter profits for the spring than expected.
The S&P 500 rose 0.7 percent Thursday and pulled closer to its record set earlier this month. The Dow Jones Industrial Average added 0.2 percent, and the Nasdaq composite climbed 1.6 percent.
Nvidia was the strongest force lifting the market and more than offset drops for the majority of the stocks within the S&P 500. The chip giant not only blew past analysts’ expectations for profit but also gave a better-than-expected forecast for revenue growth. That helped calm worries dogging the broader AI industry. Treasury yields ticked higher.
On Thursday:
The S&P 500 rose 55.29 points, or 0.7 percent, to 7,730.99.
The Dow Jones Industrial Average rose 105.56 points, or 0.2 percent, to 53,569.44.
The Nasdaq composite rose 411.16 points, or 1.6 percent, to 26,541.35.
The Russell 2000 index of smaller companies rose 8.44 points, or 0.3 percent, to 3,014.34.
For the week:
The S&P 500 is up 56.62 points, or 0.7 percent.
The Dow is up 292.43 points, or 0.5 percent.
The Nasdaq is up 360.90 points, or 1.4 percent.
The Russell 2000 is down 3.53 points, or 0.1 percent.
For the year:
The S&P 500 is up 885.49 points, or 12.9 percent.
The Dow is up 5,506.15 points, or 11.5 percent.
The Nasdaq is up 3,299.36 points, or 14.2 percent.
The Russell 2000 is up 532.43 points, or 21.5 percent.
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