Nasdaq 100 Gains on SpaceX Results
The rise in shares of SpaceX and Super Micro, both linked to technology and artificial intelligence, led Wall Street indices higher at the close of trading, as their quarterly results boosted investor confidence in AI-driven stocks. While the Nasdaq 100 increased by 1.05% to 26,701 points, the S&P 500 rose by 44.64 points (0.58%) to close at 7,757.74 points, and the Dow Jones Industrial Average gained 355.90 points (0.68%) to finish at 52,851.78 points. The results of SpaceX, which achieved its first profit since becoming a public company, and the positive outlook of Super Micro for higher-than-expected quarterly revenues and profits, encouraged investors to further trust the AI sector, despite previous concerns about companies’ ability to sustain profits amid heavy investments in AI infrastructure. However, shares of other sectors, such as telecommunications, declined, with AT&T, Netflix, and Alphabet experiencing drops amid worries over weaker performance in some companies and reduced forecasts.
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