AI surge lifts US stocks to record highs

finance.mail.ru (Russian)

US stocks closed the week at record highs, with the Dow and S&P 500 reaching all-time peaks, powered by the AI sector. The Dow rose 3%, the S&P 500 added 3.6%, and the Nasdaq jumped 5.2%. A surprising drop of 23,000 US nonfarm jobs in July reduced fears of a Federal Reserve rate increase, with markets pricing a 55% chance of no change in September. Tech stocks recovered after hedge fund Situational Awareness's liquidation sparked sell-offs. Nvidia surged over 11% after Elon Musk said SpaceX will use its chips exclusively for AI, with $18.4 billion in quarterly capex.


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