US Stocks Near Record High as AI Firms Surpass Expectations

The US stock market edged closer to its record high on Wednesday after several AI stocks reported better-than-expected growth for the spring. The S&P 500 added 0.3% and marked its first gain since setting its all-time high on Friday.

The Dow Jones Industrial Average slipped less than 0.1%, while the Nasdaq composite climbed 0.5%. Stocks like Nvidia and Super Micro Computer led the way, as businesses continue to spend big dollars on AI infrastructure.

Treasury yields eased following the latest inflation data, which showed that inflation across the United States was slightly less bad last month.