Stock market today: Wall Street rises as market focus turns from Nvidia to the US economy

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NEW YORK (AP) — Stocks rose on Wall Street Thursday as markets shift their focus back to the U.S. economy. The S&P 500 rose 0.8% in morning trading and is less than 1% away from its record set in July.

NEW YORK — Stocks rose on Wall Street Thursday as markets shift their focus back to the U.S. economy.

The market’s gains came despite a drop in Nvidia, which has ridden the frenzy over artificial intelligence to become one of the S&P 500’s most influential companies. Its shares fell 2.5% despite stellar results for the second quarter. The stock, with a total market value topping $3 trillion, is still up 147% in 2024.

The mostly solid earnings and economic growth updates are capping off a month of encouraging reports for the broader economy. Data from various reports in August have shown that retail sales, employment and consumer confidence remain strong.

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