Stock Market Today: S&P500 holds onto record run with fresh all-time closing high

Investing.com-- The S&P 500 closed at a record high Tuesday for the fifth-straight session as testimony from Federal Reserve Chair Jerome Powell didn't sway investors from bets on a first rate cut in September.Powell says labor market cooling, flags risk of keeping rates too high for too longThe fed chief also said that “good data” in the coming months would boost the chances of interest rate, and flagged the risk of keeping rates too high for too long.

Analysts, on average, see S&P 500 companies increasing their aggregate earnings per share by 10.1% in the second quarter, up from an 8.2% increase in the first quarter, according to LSEG I/B/E/S data.) rose more than 2% after Keybanc upgraded its price target on the chipmaker to $180 from $1300, citing rising AI demand.

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