by Noel Randewich and Johann M Cherian
(Reuters) – The New York Stock Exchange ended higher on Friday, as the technology sector benefited from optimism over artificial intelligence.
The Dow Jones index gained 1.05%, or 395.19 points, to 37,863.8 points.
The broader S&P-500 gained 58.87 points, 1.23%, to 4,839.81 points.
The Nasdaq Composite advanced 255.32 points (1.70%) to 15,310.97 points.
The S&P 500 hit a record close, the first in two years, thanks to a rally in semiconductors and other technology companies.
“This is a very encouraging day, 4,800 has certainly been a level that has been difficult to surpass. If we continue in this direction it will be a very positive sign,” said Lisa Erickson, head of markets. public at US Bank Wealth Management in Minneapolis.
Semiconductor-related stocks like Qualcomm, Marvell Technology, Nvidia and Microchip Technology benefited from the announcement of server manufacturer Super Micro Computer, which raised its outlook for the second quarter.
Microsoft and Apple also made progress.
Semiconductors have advanced since TSMC said Wednesday that it anticipates solid demand for chips in artificial intelligence (AI).
Investors also welcomed the first results of the monthly survey from the University of Michigan, which show that the morale of American households has improved more than expected since the beginning of January.
In values, Travelers soared after indicating that its profit had more than doubled in the fourth quarter.
Spirit Airlines rebounded after saying it was evaluating options to refinance some debt maturities.
iRobot, for its part, backed down after reports that the European Commission would consider blocking Amazon’s acquisition of the autonomous vacuum cleaner manufacturer for $1.4 billion.
(Reporting Johann M Cherian and Ankika Biswas in Bangalore, with contributions from Siddharth S; French version Camille Raynaud)
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