"AI Mania Propels S&P, Nasdaq to Record Highs"

The S&P 500 and Nasdaq rose as chipmakers surged on AI excitement, while a drop in Treasury yields and soft economic data further boosted the market. Nvidia and AMD stocks climbed, and the Philadelphia semiconductor index hit an all-time high. The dip in yields followed weak U.S. manufacturing data, fueling expectations of potential interest rate cuts. Dell Technologies forecasted strong fiscal 2025, but New York Community Bancorp slumped after disclosing internal control weaknesses. The Dow Jones was pressured by Boeing's stock decline, while the S&P energy sector performed well.