US tech stocks, led by Apple, Microsoft, and Nvidia, drive S&P 500 and Nasdaq to record highs; investors favor AI for growth.
US tech stocks, led by Apple, Microsoft, and AI leader Nvidia, are surging, driving the S&P 500 and Nasdaq to record highs. Investors globally are betting on AI as the primary driver of economic growth for the next decade. Nvidia accounts for over a third of the S&P 500's market cap gains this year, while the tech-heavy Nasdaq has increased nearly 18% year-to-date. However, relying heavily on one stock like Nvidia poses a significant risk to the S&P 500.
June 15, 2024
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