Nasdaq hits all-time high in one day – Flying high on the AI wind

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Nasdaq hits all-time high in one day – Flying high on the AI wind The Nasdaq Index, one of the representative indices of the New York Stock Exchange, reached an all-time high in just one day.

On the 1st (local time) on the New York Stock Exchange, the Nasdaq index closed at 16,274.94, up 183.02 points (1.14%) from the previous trading session.

This is the highest ever, including both intraday and closing prices.

Based on the closing price, it exceeded 16,091.92 in one day on the 29th of last month, 2 years and 3 months since November 19, 2021.

The previous intraday high for the technology-focused Nasdaq index was 16,212.23 recorded on November 22, 2021.

The Standard & Poor’s (S&P) 500 index also closed at 5,137.08, up 0.80% from the previous day, exceeding the 5,100 mark for the first time in history and hitting a record high. The previous highest was 5,096.27 the previous day. The Dow Jones Industrial Average, which is considered one of the three major stock indices along with Nasdaq and S&P 500, also closed at 39,087.38, up 0.23%.

Continuing from the previous day, an additional rally in the artificial intelligence (AI) and semiconductor industries unfolded on this day, driving a solid upward trend across the index.

NVIDIA, which has surged 260% over the past 12 months, rose 4.0% at the closing price on this day as well.

 

Its rival, Advanced Micro Devices, soared 5.25% and hit a new high.

 

Meta stock price also rose by more than 2%. AFP reported that U.S. PC and server manufacturer Dell Technologies was a beneficiary of the craze, soaring more than 31% after announcing earnings that emphasized the growth of its AI business.

The U.S. stock market has continued to rise steadily in recent weeks due to expectations of falling inflation and a recovery in the U.S. economy.

On the other hand, in the case of New York Community Bank (NYCB), which sparked concerns about the deterioration of commercial real estate loans in the United States, its stock price plummeted by more than 25%, darkening the industry atmosphere.