Wall Street’s building mania around artificial intelligence helped lift the market, even as worries worsen about political rancor in Washington.
The S&P 500 rose 0.9% Thursday after chipmaker Nvidia gave a monster forecast for upcoming sales as it benefits from the rush into AI. Because of its immense size, Nvidia is one of the most influential stocks on the market, and it helped push the Nasdaq up 1.7%. The Dow Jones Industrial Average slipped 0.1%, and the majority of stocks fell.
Treasury yields rallied after reports suggested the U.S. economy is in better shape than feared.
The S&P 500 rose 36.04 points, or 0.9%, to 4,151.28.
The Dow Jones Industrial Average fell 35.27 points, or 0.1%, to 32,764.65.
The Nasdaq composite rose 213.93 points, or 1.7% to 12,698.09.
The Russell 2000 index of smaller companies fell 12.40 points, or 0.7%, to 1,754.60.
For the week:
The S&P 500 is down 40.70 points, or 1%.
The Dow is down 661.98 points, or 2%.
The Nasdaq is up 40.20 points, or 0.3%.
The Russell 2000 is down 19.11 points, or 1.1%.
For the year:
The S&P 500 is up 311.78 points, or 8.1%.
The Dow is down 382.60 points, or 1.2%.
The Nasdaq is up 2,231.61 points, or 21.3%.
The Russell 2000 is down 6.64 points, or 0.4%.