The United States Stock Market Index (US500) Hit All-time High

The Dow Jones Index dropped -40 points or 0.08 percent on Wednesday to close at 48496 points. Losses were led by Caterpillar (-3.09%), Merck (-1.70%) and JPMorgan (-1.68%). Offsetting the fall, top gainers were Microsoft (4.62%), Salesforce (3.55%) and Apple (2.91%).

The S&P 500 rose 0.8% to cross 7020 points on Wendesday, a fresh record level while the Nasdaq gained more than 1.4% loging best 11-day stretch in history, led by gains in the tech sector. Broadcom jumped more than 3% and Meta added almost 2% after the latter said it agreed to deploy 1 gigawatt of custom AI chips using Broadcom technology. Also, Tesla surged over 7% after new vehicle software updates and as CEO Musk highlighted progress on the upcoming AI5 chip. Investor sentiment remained upbeat, with hopes that the conflict in Iran could soon de-escalate after President Trump said the war he initiated alongside Israel was nearing its end, as Pakistan’s army chief arrived in Tehran to help secure an extension of the ceasefire, which is set to expire on Tuesday. At the same time, attention is turning to corporate earnings. Bank of America rose as much as 2.5% after posting higher Q1 profits and Morgan Stanley soared more than 5% after posting record revenue.

US500 increased to an all-time high of 7003.00 Index Points. Over the past 4 weeks, United States Stock Market Index (US500) gained 4.51%, and in the last 12 months, it increased 32.71%.