“Stay Ahead of the Market: Stock Futures Steady After S&P 500 Hits Record High—Get Live Updates on Upcoming Inflation Data!”

Traders at the New York Stock Exchange were busy as the markets reacted to new earnings reports. Recently, the S&P 500 hit a fresh record, thanks to excitement around artificial intelligence (AI).

As the trading day ended, futures for the Dow slipped slightly, while S&P 500 and Nasdaq futures saw minimal declines. Investors were reviewing the latest earnings reports from various companies. For example, shares of Ulta Beauty rose about 3% after it announced a strong outlook for the coming year. Autodesk saw a boost of more than 10% due to better-than-expected guidance, while shares of Dell Technologies fell by 5% after a disappointing forecast.

The S&P 500 closed up by 0.3% at 6,501.86, marking its first close above 6,500. The index even reached an intraday high earlier in the session. The Nasdaq Composite added 0.5%, and the Dow finished up around 0.2%, achieving a new record at 45,636.90.

Nvidia’s recent earnings report played a significant role in boosting investor confidence in AI stocks. Although there were concerns about its data center business, Nvidia still managed to lift fellow chip stocks. It ultimately ended the day with only a slight decline.

Tom Lee, head of research at Fundstrat Global Advisors, shared his views on the ongoing AI boom, stating, “We’re likely still in the early stages of this cycle.” His insight highlights the strong potential for growth in this area.

Looking ahead, investors are paying attention to upcoming inflation data, with the personal consumption expenditures (PCE) index report expected soon. Economists predict a 0.2% increase for July, which could affect market sentiment moving forward.

Despite recent fluctuations, all three major indexes are close to record highs. The Dow is up 0.01% this week and has seen a 3.4% gain this month. The S&P 500 is up 0.5% this week and 2.6% for August, while the tech-heavy Nasdaq has increased by about 1% this week, totaling a 2.8% gain for the month.

These developments reflect a broader trend in the market as companies adapt and investors seek opportunities in emerging technologies. As AI continues to evolve, it will be interesting to see how it shapes the market’s future. For more in-depth analysis, you can check out reports from CNBC or the latest findings from financial research sources.

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