Stock market today: S&P 500 hovers near 5,500 level as Nvidia surge continues

US stock indexes hovered near highs on Thursday after the S&P 500 briefly crossed 5,500 for the first time ever as Nvidia continued a record-breaking surge that has catapulted it to the title of world's most valuable public company. The S&P 500 edged slightly higher after the index secured its 31st record close of the year on Tuesday. The tech-heavy Nasdaq Composite touched new highs before paring gains to fall slightly below the flatline.

Shares are up more than 170% so far this year. On Tuesday, Nvidia completed a remarkably quick surge to usurp Microsoft as the most valuable company in the world — just two weeks after it dethroned Apple as the No. 2 most valuable company. Its rise to the top has come so fast, Yahoo Finance's Jared Blikre wrote, that some more passive investors haven't been able to keep up.

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Stock market today: S&P 500, Nasdaq hover near records as Nvidia becomes most valuable stockTechs are continuing to lead an AI-driven rally that investors simply can't afford to miss out on.
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Stock market today: S&P 500, Nasdaq jump as Nvidia surge continuesNvidia's record-breaking surge, which catapulted it to the title of world's most valuable public company, was set to continue.
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Stock market today: S&P 500, Nasdaq set to jump as Nvidia surge continuesNvidia's record-breaking surge, which catapulted it to the title of world's most valuable public company, was set to continue.
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Stock market today: Nvidia inches higher as S&P 500, Nasdaq hold near recordsGrowing conviction for Fed rate cuts has buoyed megacap techs, injecting life into stocks more broadly.
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Stock market today: S&P 500, Nasdaq hit record highs as Nvidia leads tech rallyBets on Fed rate cuts are tentatively rising as investors weigh signs of a softer labor market and cooling economy.
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Stock market today: Nasdaq, S&P 500 pop as Nvidia galvanizes stocksNvidia's blockbuster earnings have fired up optimism for AI's ability to fuel growth, eclipsing rate-hike worries for now.
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