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Indonesia News Portal for Traders | Financial & Business Updates

18 October 2024 00:31  |

S&P 500 climbs to record as Nvidia pops to fresh all-time high

Stocks rose Thursday after getting a boost from semiconductor names, while strong economic data eased lingering fears of a potential recession.

The S&P 500 was last up 0.4% after earlier climbing to a new intraday record. The Dow Jones Industrial Average rose 187 points, or 0.4%, and the Nasdaq Composite advanced 0.6%.

Chip stocks led the gains, reversing some of their recent losses. Artificial intelligence darling Nvidia rose 3% and notched a new all-time high. The stock was boosted after Taiwan Semiconductor, a major supplier for Nvidia and other chip manufacturers, reported strong third-quarter results and raised its revenue forecast for the last three months of the year. Shares of TSMC jumped 13%, while AMD also rose 1%.

Source: CNBC

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