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Nasdaq hits record with AI stocks boost
The Nasdaq Composite Index rose by 2.3% to close at 27,122.09 points, marking its first record close since June 2nd. Investors showed renewed confidence in artificial intelligence stocks, especially Meta Platforms, which surged by 11.4%. The market was supported by falling oil prices, while focus also remained on Saudi efforts to compensate for the closure of a major pipeline, and the Federal Reserve's decision to raise interest rates for the first time in over three years, reflecting escalating political and economic tensions. Meta raised its target stock price to $796, with notable advancements in AI initiatives and preparations for the "Meta Connect 2026" event, set to unveil the latest AI technologies. Shares of Intel and Arm jumped by 12.2% and 17.2%, respectively, with AMD's valuation surpassing one trillion dollars for the first time. Additionally, Paramount Pictures reached a settlement with California for its $110 billion acquisition of Warner Bros., accompanied by increased investment in domestic film production. **Result:** The U.S. market recovered, driven by AI stocks, while attention shifts to the actions of major corporations and economic policy adjustments in the coming months.
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