A late rally pushes the S&P and NASDAQ to record levels once again

The S&P index moved back into negative territory with less than 30 minutes left in the trading day, but was able to recover into the close and once again ended the day in positive territory and at a new high closing level. It was the fourth consecutive record closing level for the S&P index .

The NASDAQ index closed higher by 0.28% for its fifth consecutive record close.

The Dow Industrial Average average fell on the day.

The final numbers are showing:

• Dow Industrial Average closed down -31.10 points or -0.08% at 39344.78
• S&P index closed up 5.66 points or 0.10% at 5572.86.
• NASDAQ index closed up 50.98 points or 0.28% at 18403.74.

The small-cap Russell 2000 also closed higher by 11.94 points or 0.59% at 2038.66.

The major movers were mixed today:

• Tesla closed higher for it ninth consecutive day. It rose by $1.42 or 0.56% to $252.94. That’s the highest close level in 2024 (highest since December 28, 2023)
• Meta Platforms tumbled -1.96%
• Amazon fell -0.36%
• Alphabet fell -0.82%
• Microsoft fell -0.28%
• Apple rose 0.65%

A new AI stock seems to be Corning as demand for its fiber-optic products surges with the rising adaption of AI technology. Shares closed up $4.61 or 11.99% at $43.05

Super Micro Computers closed just under $900 after a 6.23% gain today.

Intel rose 6.15%, AMD rose 3.93%, Broadcom rose 2.5%, and Taiwan Semi Conductor rose 1.45% on positive flows into the chip stocks.

This article was written by Greg Michalowski at www.forexlive.com.