S&P 500 broke above 6,500 for the first time after Nvidia’s earnings

The S&P 500 jumped past 6,500 for the first time in history on Thursday after investors reacted to Nvidia’s second-quarter ￰0￱ index rose 0.3% intraday, breaking its previous ￰1￱ Nasdaq Composite moved up 0.6%, while the Dow Jones Industrial Average added 81 points, or 0.2%, according to data from CNBC. S&P 500 Index 1hr price chart Traders saw Nvidia’s report as confirmation that the AI rally is still alive, even if there were a few weak spots in the numbers. Nvidia, which now makes up around 8% of the S&P 500, posted 56% revenue growth, beating Wall Street’s ￰2￱ two things caught ￰3￱ data center revenue came in just shy of forecasts, and the company’s forward guidance of $54 billion for the current quarter was only slightly above the $53.1 billion estimated by analysts at ￰4￱ stock slipped before the open but reversed course, trading 0.5% lower by midday.

Still, the company made it clear that none of that forward guidance includes revenue from H20 chip sales to ￰5￱ Reitzes, head of tech research at Melius, said on CNBC’s “Squawk Box” that “they didn’t include China in their guide, and some people were hoping there were some China sales in there, maybe a little firmer stance that China sales could get going.” He added, “The core growth outside of China was really ￰6￱ should be more great growth in the fourth quarter, so I think we’re all systems go.” Chipmakers bounce after initial dip Despite the minor pullback, several analysts grew more bullish on Nvidia after the ￰7￱ like JPMorgan, Citi, and Bernstein raised their price targets, signaling more upside ￰8￱ watching the AI trade stayed engaged, with names like Broadcom and Micron Technology both climbing around 3% after slipping early ￰9￱ report also revived confidence across the chip sector.

Elsewhere, Snowflake (another AI-linked name) jumped roughly 22% after its second-quarter earnings beat ￰10￱ surprise surge added to the tech-driven gains seen across major ￰11￱ S&P 500 had already posted a winning session on Wednesday, with expectations for a strong Nvidia report lifting the index to record levels. Thursday’s actual earnings only pushed it higher. Meanwhile, political pressure on the Federal Reserve added another layer of ￰12￱ this week, President Donald Trump told Fed Governor Lisa Cook she was ￰13￱ Thursday, Cook responded by filing a lawsuit to challenge the move. A federal judge is expected to hold a hearing on ￰14￱ beats forecast as rate bets return On the economic front, the Commerce Department released its revised second-quarter GDP figure, showing a 3.3% annualized growth ￰15￱ topped both the previous 3.0% estimate and the 3.1% forecast from Dow ￰16￱ stronger growth gave investors more to work with as they look ahead to the Personal Consumption Expenditures (PCE) inflation report due ￰17￱ surveyed by Dow Jones are predicting a 0.2% monthly increase and a 2.6% year-over-year rise in the July ￰18￱ happens next will likely come down to the ￰19￱ Kabra, lead ￰20￱ and multi-asset strategist at Societe Generale, told clients in a note that “we believe the bigger driver for equities will be the Fed and rate-cut outlook.” He also projected that the Fed will cut interest rates by over 100 basis points across the next 12 months.

So, between Nvidia’s numbers, Washington’s drama, economic beats, and fresh inflation data on deck, the S&P 500 just bulldozed into uncharted ￰21￱ seen where it ￰22￱ in Cryptopolitan Research and reach crypto’s sharpest investors and builders.