Wall Street closes higher with records thanks to stable interest rates and rising AI

Wall Street closes higher with records thanks to stable interest rates and rising AI The New York stock exchange closed higher today, with records for the expanded S&P500 and technology Nasdaq indexes, thanks to the moderation in the rise of the cost of debt and the return of enthusiasm for artificial intelligence (AI). The session's results indicate that the selective Dow Jones Industrial Average gained 0.49%, the S&P500 advanced 0.58% to 7,818 points, and the Nasdaq rose 0.45% to 27,599 units. One of the main reasons that drove investors was the return of optimism about the technology conglomerates involved in the development of AI. Another was the moderation of federal bond yields, with the 10-year yield falling by 0.3 percentage points to 5.281% and the 30-year yield remaining at 5.65%. "We have the idea" that the rise in rates in recent days "was above all a panic move, which seems to be decreasing, at least in the short term," according to Sam Stovall of CFRA, in statements to AFP. On Monday, the yield on 10-year bonds reached 5.34%, repeating the highs of 2002. "The technology and large-cap values contributed significantly to the rise observed today on Wall Street," highlighted analysts from Briefing.com. The so-called Seven Magnificas - the surname of the main technology companies - all closed higher: Nvidia (+0.14%), Amazon (+1.95%), Apple (+0.22%), Microsoft (+0.78%), Alphabet (+0.35%), Meta (+0.51%) and Tesla (+0.51%). Investors are now impatiently awaiting the start of the earnings season next week to see if the enthusiasm for technology conglomerates linked to AI remains. After a particularly solid second quarter, "growth in profits in the third quarter is forecast at 24.3%," according to Sam Stovall.