15.04.202618:41:20UTC+00S&P 500 Hits New Record

The S&P 500 rose 0.8% on Wednesday to surpass 7,015 points, setting a new record high, while the Nasdaq gained more than 1% to trade near its highest levels since January, driven by strength in the tech sector. Broadcom advanced more than 3% and Meta climbed nearly 2% after Meta announced it would deploy 1 gigawatt of custom AI chips built with Broadcom technology.

Other mega-cap stocks were mostly higher as well, including Apple (+2.6%), Microsoft (+5%), Tesla (+7%) and Nvidia (+0.5%). Investor sentiment remained upbeat, supported by hopes that the conflict involving Iran may soon de-escalate after President Trump said the war he launched in coordination with Israel was nearing its end, as Pakistan’s army chief arrived in Tehran to help secure an extension of the ceasefire, which is due to expire on Tuesday.

At the same time, attention is increasingly shifting toward corporate earnings. Bank of America gained as much as 2.5% after reporting higher Q1 profits, while Morgan Stanley surged more than 5% on record quarterly revenue.