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Wall Street reaches new highs amid AI gains
The U.S. stock indices rose, with the S&P 500 and Dow Jones achieving new record levels thanks to strong profits and optimistic forecasts from artificial intelligence companies. Additionally, crude oil prices declined, and expectations of easing tensions with Iran over the Strait of Hormuz contributed to the positive sentiment. The S&P 500 increased by 0.9%, reaching 7,668.57 points, while the Dow Jones gained 1.15%, climbing to 53,790.1 points. Notably, Caterpillar and Ballantyne saw significant gains, with Caterpillar’s revenue surpassing $20 billion for the first time, and Ballantyne’s revenues soaring by 93%. This reflects strong growth in the technology and energy sectors, amid expectations of a market rebound despite concerns over companies’ high valuations and ongoing geopolitical tensions.
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