Equity Alert
Dow, S&P 500 close at record highs Thu; chipmakers gain
This story was originally published at 07:32 IST on 29 August 2025
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Equity Alert: Dow, S&P 500 close at record highs Thu; chipmakers gain
MUMBAI--0715 IST--US equity indices closed higher on Thursday despite chipmaker Nvidia's earnings falling short of expectations, after it was affirmed that spending related to artificial intelligence remained intact. Though Nvidia ended the session a bit lower, other chipmakers cheered the positive outlook. The Dow Jones Industrial Average and the S&P 500 closed at record highs for the second straight session. Further, the weekly jobless claims data came in lower than expected, allaying fears of a slowing economy and another seperate report showed the profits of American corporates rebounded in the quarter ended June.
Investors viewed Nvidia's earnings for the June quarter, which showed a 56% surge in quarterly revenue, as confirmation of demand related to AI technology being strong. Sentiment around the sector turned positive and other AI heavyweights gained, with Alphabet and Amazon up 2% and 1%, respectively. Chipmaker Broadcom rose almost 3%.
The Dow Jones Industrial Average ended Thursday's session slightly higher at 45636.90 points, a record high. Similarly, the S&P 500 also notched a closing high and ended at 6501.86 points, up 0.3%. The Nasdaq Composite rose for the third straight day and closed 0.5% higher at 21705.158 points.
On Friday, investors will focus on Personal Consumption Expenditures, the US Federal's Reserve's preferred inflation yardstick. Any signs of inflation increasing could affect broad expectations for easing at the US Federal Reserve's monetary policy meeting in September. Traders anticipate a more than an 80% chance of a federal funds rate cut next month, as per CME FedWatch Tool.
Following are the closing levels of US indices overnight:
| INDEX | LAST LEVEL | CHANGE IN % |
| Dow Jones Industrial Average | 45636.9 | 0.16 |
| NASDAQ Composite | 21705.16 | 0.53 |
| S&P 500 | 6501.86 | 0.32 |
(Gopika Balasubramanium)
US$1 = INR 87.62
End
Edited by Avishek Dutta
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