NEW YORK — The Nasdaq Composite closed at a record high of 27,079.32, advancing 139.94 points, or 0.52 percent. The S&P 500 climbed 38.20 points, or 0.50 percent, to 7,742.33. The Dow Jones Industrial Average rose 461.86 points, or 0.90 percent, to 51,811.84.
Microsoft led the rally, surging 3.7 percent to $516.17. The stock's outsize gain reflects investor appetite for artificial intelligence exposure and Microsoft's dominance in the large-cap technology weighting that comprises 48.39 percent of the Nasdaq Composite.
Semiconductors provided support across the sector. Nvidia gained 0.2 percent to close at $225.07.
Meta Platforms declined 3.3 percent to $751.66, signaling uneven enthusiasm for AI-related gains across megacap tech stocks.
Declines in crude oil and falling 10-year U.S. Treasury yields eased pressure on valuations and bolstered risk appetite.
The concentrated construction of the Nasdaq Composite—with technology and communications stocks dominating the index's weighting—means individual stock performance in the mega-cap tier can move the entire index. Today's Microsoft surge carried the broader tech-heavy benchmark to new highs.
