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Stock market today: S&P 500, Nasdaq gain as US GDP data, chip stocks lift mood

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Nasdaq Composite समाचार

Stock Market,Super Micro Computer,Record Highs

A double dose of optimism for the AI trade and for China's stimulus push is buoying the market ahead of Jerome Powell's comments.

US stocks jumped on Thursday afternoon, setting the stage for fresh record highs. Investors welcomed a slew of updates, including solid US economic data, Micron's upbeat earnings, and China's pledges of more stimulus. The Dow Jones Industrial Average rose 0.7%, while the S&P 500 added more than 0.4% after both gauges slipped back from all-time highs in the prior session. The tech-heavy Nasdaq Composite gained roughly 0.5% amid a sharp spike in Micron's shares.

During Thursday's session, Super Micro Computer stock tanked 14% after the Wall Street Journal reported the Department of Justice is probing the server maker following a short seller report from Hindenburg Research published last month. A final update from the US government on second quarter GDP growth beat Wall Street expectations, while weekly jobless claims unexpectedly fell to the lowest levels in four months.

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