S&P, Nasdaq end at records buoyed by tech stocks

The Dow rose 47.37 points, or 0.12%, to 38,996.39. The S&P 500 gained 26.51 points, or 0.52%, to 5,096.27 and the Nasdaq advanced 144.18 points, or 0.90%, to 16,091.92.

NEW YORK: The S&P 500 and Nasdaq closed at record highs on Thursday, buoyed by tech stocks linked to AI, while inflation data and comments from Federal Reserve officials helped shape expectations for the timing of the central bank's interest rate cuts.

Heavyweight chipmaker Nvidia advanced 2.08% as one of the biggest boosts to the benchmark S&P index and Nasdaq while smaller rival Advanced Micro Devices surged 9.06%. Those and other technology companies have been the centerpiece of a Wall Street rally in recent months, fuelled by optimism over growth prospects related to artificial intelligence.