AI Optimism Propels Nasdaq to Record High After Covid

The Nasdaq index, home to many tech companies, reached a new high on Thursday, driven by optimism surrounding artificial intelligence (AI). The index rose 0.9% to 16,091.92, bouncing back from a slump in 2021. Investors are bullish on AI’s potential to fuel growth and have been investing in companies like chipmaker Nvidia. The Dow Jones and S&P 500 also saw gains, with all three indexes marking four consecutive months of growth. Major companies driving the rally included Nvidia and Microsoft, which announced new AI-powered features. Investors are hopeful that the US central bank will soon lower interest rates, boosting economic activity. Additionally, the Department of Commerce reported a decrease in the PCE price index, aligning with expectations. Japan’s stock index also hit an all-time high recently. Related topics include NASDAQ, S&P 500, artificial intelligence, and the Dow Jones Industrial Average.