S&P 500 Nears 5500 Amid Nvidia Rally

Major stock indexes, including the S&P 500 and Nasdaq, slipped from record highs on Thursday, driven by a more than 3% decline in Nvidia's stock. Despite the dip, Nvidia remains significantly up for the year. The Dow Jones Industrial Average, however, rose by 0.7%. The market's recent growth has been fueled by excitement around AI, with Nvidia at the forefront. Additionally, global central banks' rate decisions and a slight dip in weekly jobless claims were notable economic factors.