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The S&P 500 rose on Thursday, briefly to pass 5,500 for the first time ever, as the artificial intelligence-driven rally in Nvidia showed no signs of slowing down.
The Dow Jones Industrials stayed higher 83.88 points to 38,918.74.
The much-broader index eked higher 2.05 points to 5,489.08.
The NASDAQ faded 16.15 points, to 17,846.08.
Nvidia rose 2.7%, building on the previous session’s gains that cemented the chipmaker as the most valuable public company. Shares of the de facto market leader have climbed more than 180% this year as the AI boom continues to boost equities even as consumers show slowing signs of spending and some potential economic weakness.
Darden Restaurants edged up 2% after topping earnings expectations, while Trump Media & Technology Group sank 10%, building on Tuesday’s loss.
Stocks are headed for a winning week as the S&P continues notching new records, alongside the Nasdaq Composite. The stock market was closed Wednesday for the Juneteenth holiday.
Fresh economic data released Thursday contributed to some recent signs of a slowing economy. That data included higher-than-expected weekly jobless claims and poor housing starts and permits. A reading of the Philadelphia fed Manufacturing Index also came in below expectations.
Prices for the 10-year Treasury sagged, raising yields to 4.28% from Tuesday’s 4.21%. Treasury prices and yields move in opposite directions.
Oil prices gained 76 cents to $81.93 U.S. a barrel.
Gold prices rose $21.60 to $2,368.50
