S&P 500 Tops 7,500 as AI Fuels Record-Breaking Run: Markets Wrap

A revival of the artificial-intelligence trade kept fueling momentum in stocks, with the market also rising after retail sales showed signs of consumer strength despite a war-driven surge in energy costs.

The rally in equities from this year’s lows drove the S&P 500 above 7,500 for the first time. Nvidia Corp.’s seven-day gain put its value close to $6 trillion. A solid outlook from Cisco Systems Inc. lifted its shares by 13%. The AI-hype extended Ford Motor Co.’s jump. Cerebras Systems Inc. soared 68% in its debut. In late hours, Applied Materials Inc. gave strong forecasts.

Stocks get tech lift.

Photographer: Michael Nagle/Bloomberg