The S&P 500 and Nasdaq jumped to record highs this Wednesday, encouraged by the progress of negotiations in the conflict with Iran and an uptick in chip manufacturers and other actions related to Artificial Intelligence.
Advanced Micro Devices soared 17% to an all-time high after forecasting quarterly revenues above expectations due to robust demand for its data center chips. The shares of rival Intel, on the other hand, rose 2.4%
.But it was mainly the progress in the talks between Iran and the US that made it a dream day in the markets.
Global stocks rose and oil prices plummeted after President Donald Trump announced that a one-page memorandum to end the war in the Gulf, leaving complex issues such as Iran's nuclear program for later, was close to being signed.
Trump's economy remains strong
.However, Wall Street has risen in recent weeks, with investors looking beyond the conflict in the Middle East and with the AI “gold rush” continuing. “The economy is moving at a good pace. There are no real warning signs of anything even coming close to a recession. And against that backdrop, you have to own stocks,” said analyst Thomas Martin
