On Thursday, the S&P 500 and Nasdaq Composite reached new record closes as technology stocks regained leadership, amid investor caution over reports of a tentative agreement between U.S. and Iranian negotiators to prolong the ceasefire.
The broader market index increased by 0.58% to finish at 7,563.63, while the Nasdaq Composite climbed 0.91% to close at 26,917.47.
Both indices also hit intraday all-time highs.
The Dow Jones Industrial Average edged up slightly by 0.05%, ending the day at 50,668.97.
Tech stocks led the rally, bolstered by Snowflake’s optimistic earnings outlook, which reignited enthusiasm for AI-related investments.
Shares of Snowflake soared 36.5%, marking their best day ever, after the company provided strong fiscal second quarter guidance and surpassed earnings expectations.
Additionally, Snowflake announced a five-year, $6 billion partnership with Amazon Web Services to expand its cloud infrastructure.
Source (CNBC)
