The U.S. stock market’s Wednesday session is a historic one, as both the S&P 500 and the Nasdaq 100 indices closed at record high levels, driven by increased investor confidence in artificial intelligence-driven growth expanding from the tech sector to the broader market. The S&P 500 Index, as tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), closed the session 5,354 points, surpassing the latest all-time high close hit of 5,321 points hit on May 21. The tech-heavy Nasdaq 100 Index, as monitored
AI chip leader Nvidia hit a market capitalization of $3 trillion on Wednesday, becoming the third U.S. company to do so after Apple and Microsoft.
Ultimately, earnings drive share prices. Only two Magnificent Seven stocks, and a third megacap, meet this triple-25% growth standard.