Wall Street’s Nasdaq hits all-time high as AI frenzy gathers pace
Summary
The Nasdaq stock market reached a record high, helped by strong gains from major technology companies despite worries about AI safety, high tech prices, and tensions from the United States’ conflict with Iran. Positive talks between U.S. and Iranian officials also helped calm markets, while interest in AI technology growth continues to attract investors.Key Facts
- The Nasdaq Composite index rose 0.45 percent, reaching an all-time high and gaining over 17 percent this year.
- The Nasdaq 100 index, which tracks the 100 largest companies, increased by 0.82 percent.
- The S&P 500 index, representing the broader U.S. market, ended mostly unchanged.
- Top tech companies like Nvidia, Apple, and Micron Technology saw stock price increases.
- Meta Platforms’ stock dropped slightly after a big gain the previous day linked to its new AI assistant called Muse.
- Asian stock markets mostly opened higher, except Hong Kong’s which opened lower.
- Oil prices were stable following recent drops due to better oil supply and hopes of U.S.-Iran diplomatic progress.
- President Donald Trump said U.S. and Iranian officials had a positive meeting and plan more talks soon despite ongoing conflict.
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