S&P 500 Reaches Record High Amid Mixed Tech Earnings
The S&P 500 closed at a record 6,501.86, driven by gains in major tech stocks, while Nvidia's shares declined despite strong earnings.
The S&P 500 closed at a record 6,501.86 on Thursday, August 28, 2025, marking its second consecutive all-time high. The Dow Jones Industrial Average rose 0.2% to 45,636.90, and the Nasdaq Composite gained 0.5% to 21,705.16.
Technology stocks led the market's advance. Broadcom's shares increased by 3%, Alphabet rose 2%, and both Apple and Amazon added 1%. Microsoft and Meta Platforms also saw gains.
Nvidia reported a 56% year-over-year revenue increase to $46.7 billion for the second quarter of fiscal 2026. Data center revenue reached $41.1 billion, up 5% from the previous quarter. Despite these strong results, Nvidia's shares declined by 0.5%, as investors expressed concerns over future growth, particularly in the Chinese market.
Economic indicators showed resilience, with the U.S. economy growing at an annualized rate of 3.3% in the April-June quarter. Unemployment claims decreased, even as hiring slowed.
In other corporate news, Snowflake's shares surged 23% after the company reported strong results and raised its guidance. CrowdStrike's shares rebounded 4% following sharp losses earlier in the day.
Investors are closely monitoring the Federal Reserve's upcoming decisions, with an 85.3% probability of a 0.25% interest rate cut anticipated in September.