S&P 500 Hits Record High as Tech Stocks and AI Investments Surge

Strong corporate earnings and President Trump's $500 billion AI initiative drive optimism on Wall Street.

The S&P 500 reached a new intraday high of 6,100, driven by gains in technology and communication services sectors.
Mega-cap tech companies, including Nvidia and Microsoft, led the rally, with Netflix hitting a record high on strong earnings and subscriber growth.
President Trump's $500 billion 'AI Stargate' initiative, announced this week, aims to bolster AI infrastructure and create 100,000 jobs in its initial phase.
Corporate earnings have exceeded expectations, with 81% of S&P 500 companies reporting stronger-than-forecast profits for the fourth quarter of 2024.
Rising optimism about potential Federal Reserve interest rate cuts later this year is also contributing to market momentum.