Business & Finance
S&P 500 Poised for Another Record as AI Spending Narrative Holds
Key Points
S&P 500 Poised for Another Record as AI Spending Narrative Holds Futures climbed on Wednesday as the latest batch of earnings pointed to strong demand for, and spending on, artificial intelligence. SpaceX reported higher-than-expected AI-related outlays, which overshadowed results that broadly beat forecasts, while Nvidia Corp. rallied after Elon Musk touted his computing plans. S&P 500 futures were 0.4% higher as of 7:52 a.m. in New York, while Nasdaq 100 contracts were little changed.
S&P 500 Poised for Another Record as AI Spending Narrative Holds
Futures climbed on Wednesday as the latest batch of earnings pointed to strong demand for, and spending on, artificial intelligence. SpaceX reported higher-than-expected AI-related outlays, which overshadowed results that broadly beat forecasts, while Nvidia Corp. rallied after Elon Musk touted his computing plans.
S&P 500 futures were 0.4% higher as of 7:52 a.m. in New York, while Nasdaq 100 contracts were little changed. If pre-market gains last through the day, the S&P 500 Index will be on track to close at a record for a second day. West Texas Intermediate crude rose 0.3% to trade around $76 per barrel, as President Donald Trump told reporters in Los Angeles on Tuesday night that talks with Iran were “moving along very nicely.”