The S&P 500 briefly hit 6,100 points on Wednesday, reaching a fresh all-time high as Wall Street embraced a powerful mix of strong corporate earnings and President Donald Trump's bold $500 billion artificial intelligence initiative, dubbed “AI Stargate.” The project, designed to transform America's AI infrastructure, added fuel to a market already cheering on stronger-than-expected fourth-quarter earnings and rising hopes of Federal Reserve interest rate cuts later this year.
Mega-cap technology stocks and semiconductor giants led the charge, pushing the S&P 500 — tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY) — higher for the sixth time in the last seven sessions.
By midday Wednesday, the S&P 500 hit 6,100.4 points, narrowly surpassing its previous record of 6,099 set on Dec.6.
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