Tech Powers US Stocks Higher

2026-05-14 20:19 By Luisa Carvalho 1 min. read

The US stock market surged toward new records on Thursday, as strength in AI-related companies and optimism surrounding the US-China summit in Beijing helped offset global economic pressures.

The S&P 500 climbed 0.8% to cross 7,500 for the first time, and the Nasdaq rose 0.9% to an all-time high of 26,635.

The Dow added 0.75%, crossing 50,000 for the first time since February, when the Iran war started.

Tech stocks rallied, led by Cisco Systems, which jumped 13.4% after raising its revenue and earnings outlook.

Meanwhile, Nvidia jumped 4.4%, extending its monthly rally to 15% after the US cleared 10 Chinese firms to receive H200 chips.

The announcement came during President Trump’s visit to Beijing alongside tech CEOs.

In the meantime, Treasury Secretary Scott Bessent said the US and China are exploring a mechanism to fast-track select Chinese investment deals, alongside potential tariff reductions on a range of non-critical goods.



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The US stock market surged toward new records on Thursday, as strength in AI-related companies and optimism surrounding the US-China summit in Beijing helped offset global economic pressures. The S&P 500 climbed 0.8% to cross 7,500 for the first time, and the Nasdaq rose 0.9% to an all-time high of 26,635. The Dow added 0.75%, crossing 50,000 for the first time since February, when the Iran war started. Tech stocks rallied, led by Cisco Systems, which jumped 13.4% after raising its revenue and earnings outlook. Meanwhile, Nvidia jumped 4.4%, extending its monthly rally to 15% after the US cleared 10 Chinese firms to receive H200 chips. The announcement came during President Trump’s visit to Beijing alongside tech CEOs. In the meantime, Treasury Secretary Scott Bessent said the US and China are exploring a mechanism to fast-track select Chinese investment deals, alongside potential tariff reductions on a range of non-critical goods.
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