S&P 500, Nasdaq Hit Record Highs Again on AI, Chip Rally
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The S&P 500 and Nasdaq Composite extended their record-breaking streak, closing at new all-time highs for the second consecutive day.
On April 16, the Dow Jones Industrial Average rose 0.24% to 48,578.72. The S&P 500 closed at 7,041.28, while the Nasdaq reached 24,102.70.
The Nasdaq has now risen for 12 straight sessions, marking its longest winning streak since 2009.
Investor sentiment was boosted by easing geopolitical tensions, as Donald Trump highlighted a ceasefire between Israel and Lebanon, along with progress in talks with Iran.
Semiconductor stocks led the rally after TSMC reported record profits, lifting shares of AMD and Intel.
AI-related momentum also fueled gains, with Myseum announcing a rebrand to Myseum.AI and seeing its stock surge 129% in a single day.
Analysts say a mix of geopolitical developments and strong tech-sector performance continues to drive the market higher.
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