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S&P 500 and Nasdaq Notch Records; AMD Results Spark AI Stock Rally
AMD and Super Micro led a chip rally as earnings beats and AI demand pushed semiconductor stocks higher.
- On Wednesday, the S&P 500 surged 1.45% to 7,364.72 and the Nasdaq Composite gained 2.01% to 25,834.88, both hitting record closes amid easing geopolitical tensions and a rally in artificial intelligence stocks.
- After Iran said it was reviewing a new U.S. proposal, global stocks surged and oil prices slumped about 8% to $101 a barrel, easing inflationary concerns that had weighed on markets.
- Advanced Micro Devices Inc. soared 16.9% and Super Micro Computer Inc. rallied 16.3% on Wednesday, driven by strong earnings beats and robust demand for data center chips tied to artificial intelligence infrastructure.
- Over 80% of S&P 500 companies reporting through May 1 exceeded profit estimates, positioning the index for its strongest earnings growth in more than four years, according to LSEG I/B/E/S data.
- Investors await Friday's non-farm payrolls report, with economists surveyed by Reuters expecting U.S. jobs to increase 62,000 in April following March's rebound of 178,000, according to consensus estimates.
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18 Articles
Times of IndiaReposted by 
The Economic Times
The Economic TimesUS stocks today: S&P 500 and Nasdaq notch records; AMD results spark AI stock rally
The S&P 500 and Nasdaq hit record highs Wednesday, fueled by Middle East conflict resolution hopes and strong AMD earnings boosting AI stocks. Global stocks surged as oil prices dropped, with S&P 500 companies showing robust profit growth driven by AI advancements. The economy shows stability, with strong private payrolls and positive outlooks from companies like Disney and Uber.
·India
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US stock market today: Dow, S&P 500, Nasdaq futures jump on rising US-Iran peace hopes; AMD soars 18%
US stock futures rose sharply on May 6 as oil prices fell amid reports of a potential US-Iran agreement to end the war in the Middle East. The S&P 500 and Nasdaq 100 futures gained 1% and 1.6%, respectively, as optimism grew around the negotiations.
·New Delhi, India
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Total News Sources18
Leaning Left2Leaning Right3Center4Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 22%
C 45%
R 33%
Factuality
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