Stocks Extend Winning Streak Amid Economic Data and AI Momentum

The major U.S. stock indexes posted modest gains for a fourth consecutive session on Thursday, buoyed by continued momentum in the artificial intelligence sector and fresh economic data showing resilient growth.

The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all inched higher, building on a rally that has seen investor focus return to mega-cap technology and growth stocks.

Key Economic Data and Market Movers

The trading day unfolded against a backdrop of revised economic figures. A key report indicated the U.S. economy grew at an annualized rate of 4.3% in the first quarter, underscoring underlying economic strength even as other data points to moderating activity.

In a notable cross-asset move, the price of gold surged to a new milestone, reflecting ongoing investor demand for safe-haven assets amid geopolitical tensions and expectations for future interest rate cuts.

Individual stock action was dominated by familiar AI and pharmaceutical leaders:

  • Nvidia (NVDA) remained a focal point, contributing significantly to the Nasdaq's gains as the AI trade continues to drive sentiment.
  • Eli Lilly (LLY) saw active trading, with investors closely watching developments in its weight-loss and diabetes drug portfolio.
  • Micron Technology (MU) advanced, benefiting from the broad demand for semiconductor and memory chips tied to AI infrastructure.
  • Tesla (TSLA) was among the notable movers, with its shares reacting to the latest company-specific news and broader market trends.

The positive session on Wall Street contrasted with a slight dip in the Dow Jones Industrial Average reported in earlier trading, highlighting the mixed and rotational nature of the current market advance.