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Nasdaq hits record high amid earnings focus
The Nasdaq index closed today, Monday, at a record high level supported by shares of major technology companies such as Nvidia and Microsoft, along with declining oil prices and investors awaiting third-quarter earnings reports. This came after weak jobs data which dampened expectations of an interest rate hike by the Federal Reserve, helping to boost market risk appetite. These developments contributed to the increases in the S&P 500 and Nasdaq indices by 0.67% and 1.06%, respectively, with expectations that profits from AI-related companies will grow by more than 30% year-over-year.
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