- Small Quebec company dominates one part of NHL hockey: jerseys
- Comoros shock Tunisia, Salah, Mbeumo strike in AFCON qualifiers
- Boeing to cut 10% of workforce as it sees big Q3 loss
- Germany win in Nations League as 10-man Dutch rescue point
- Undav brace sends Germany to victory against Bosnia
- Israel says fired at 'threat' near UN position in Lebanon
- Want to film in Paris? No sexism allowed
- Ecuador's last mountain iceman dies at 80
- Milton leaves at least 16 dead, millions without power in Florida
- Senegal set to announce breakaway development agenda: PM
- UN says 2 peacekeepers wounded in south Lebanon explosions
- Injury-hit Australia thrash 'embarrassing' Pakistan at Women's T20 World Cup
- Internal TikTok documents show prioritization of traffic over well-being
- Israel says fired at 'immediate threat' near UN position in Lebanon
- New US coach Pochettino hails Pulisic but worries over workload
- Brazil orders closure of 2,000 betting sites
- UK govt urged to raise pro-democracy tycoon's case with China
- Sculptor Lalanne's animal creations sell for $59 mn
- From Tesla to Trump: Behind Musk's giant leap into politics
- US, European markets rise as investors weigh rates, earnings
- In Colombia, children trade plastic waste for school supplies
- Supercharged hurricanes trigger 'perfect storm' for disinformation
- JPMorgan Chase profits top estimates, bank sees 'resilient' US economy
- Djokovic proves staying power as he progresses to Shanghai semi-finals
- Sheffield Utd boss Wilder 'numb' after Baldock death
- Little progress at key meet ahead of COP29 climate summit
- Fans immerse themselves in Marina Abramovic's first China exhibition
- Israel says conducting review after UN peacekeepers wounded in Lebanon
- 'Party atmosphere': Skygazers treated to another aurora show
- Djokovic 'overwhelmed' after 'greatest rival' Nadal's retirement
- Zelensky in Berlin says hopes war with Russia will end next year
- Kyrgyzstan opens rare probe into glacier destruction
- European Mediterranean states discuss Middle East, migration
- Djokovic proves staying power as progresses to Shanghai semi-finals
- Hurricane Milton leaves at least 16 dead as Florida cleans up
- Britain face 'ultimate challenge' in America's Cup duel with New Zealand
- Lebanon calls for 'immediate' ceasefire in Israel-Hezbollah war
- Nihon Hidankyo: Japan's A-bomb survivors awarded Nobel
- Thunberg leads pro-Palestinian, climate protest in Milan
- Boat captain rescued clinging to cooler in Gulf of Mexico after storm Milton
- Tears, warnings after Japan atomic survivors group win Nobel
- 'Unspeakable horror': the attacks on Hiroshima and Nagasaki
- Stock markets diverge before China weekend briefing
- Christian villagers 'trapped' in south Lebanon crossfire
- Sabalenka sets up Gauff showdown in Wuhan semis
- EU questions shopping app Temu over illegal products risk
- Kim Sei-young holds lead with late birdies at LPGA Shanghai
- Toulouse welcome Dupont 'boost' as Olympic star returns to Top 14
- Japanese atomic bomb survivor group Nihon Hidankyo wins Nobel Peace Prize
- Deadly Israeli strike on Beirut likely targeted Hezbollah security chief
Stocks end week at fresh records as Nvidia tops $2 tn
Wall Street stocks finished the week with a flourish Friday behind continued momentum for equities tied to artificial intelligence, especially Nvidia, which finished wih a valuation above $2 trillion for the first time.
Both the S&P 500 and Nasdaq ended at fresh all-time highs following records in Tokyo and Frankfurt.
"This week saw risk on sentiment take several global stock indices to record highs, the first day of March being no exception," said Axel Rudolph, senior market analyst at online trading platform IG.
David Morrison, senior market analyst at Trade Nation, said "market sentiment remains bullish, and there seems little appetite for profit-taking."
Stock markets have been on a march higher since late last year, initially on hopes that central banks will soon be able to begin lowering their high interest rates as inflation began to fall closer to normal levels.
While hotter-than-expected inflation data from recent months has pushed expectations for the first interest rate cut to mid-year, markets have instead been propelled by stellar results from AI firms in recent weeks.
Perhaps no company has benefited as much as Nvidia, which is led by Jensen Huang, who has developed technology perfectly suited for developing the large language models (LLMs) that underpin generative AI interfaces such as ChatGPT.
Nvidia jumped four percent Friday to end the day with a valuation above $2 trillion, joining an elite club that includes just Apple, Microsoft and Saudi Aramco.
Also Friday, Dell Technologies became the latest big beneficiary of the AI fever, surging more than 31 percent following an earnings report that highlighted its growing AI business.
The tech-rich Nasdaq led the major US indices, rising 1.1 percent.
CFRA Research's Sam Stovall said the gains in New York were also supported by weaker economic data, including the Institute for Supply Management survey of manufacturers and consumer confidence data as "indicating that there could be more reason" for the Fed to cut interest rates in May.
In Europe, Frankfurt's DAX set a new record while the CAC in Paris was also near its record high, with a less-than-expected drop in eurozone inflation failing to derail sentiment.
Meanwhile in Asia, Tokyo's benchmark Nikkei index almost touched 40,000 points for the first time.
Asian markets mostly rose, with better-than-expected Chinese data helping sentiment.
"China's factory growth rising above forecasts even though manufacturing shrank for a fifth straight month did not dent investors' mood with the country's stock indices pursuing their recovery," said IG's Rudolph.
- Key figures around 2150 GMT -
New York - Dow: UP 0.2 percent at 39,087.38 (close)
New York - S&P 500: UP 0.8 percent at 5,137.08 (close)
New York - Nasdaq Composite: UP 1.1 percent at 16,274.94 (close)
London - FTSE 100: UP 0.7 percent at 7,682.50 (close)
Frankfurt - DAX: UP 0.3 percent at 17,735.07 (close)
Paris - CAC 40: UP less than 0.1 percent at 7,934.17 (close)
EURO STOXX 50: UP 0.4 percent at 4,894.86 (close)
Tokyo - Nikkei 225: UP 1.9 percent at 39,910.82 (close)
Hong Kong - Hang Seng Index: UP 0.5 percent at 16,589.44 (close)
Shanghai - Composite: UP 0.4 percent at 3,027.02 (close)
Euro/dollar: UP at $1.0841 from $1.0805 on Thursday
Dollar/yen: UP at 150.11 yen from 149.98 yen
Pound/dollar: UP at $1.2656 from $1.2625
Euro/pound: UP at 85.65 pence from 85.58 pence
Brent North Sea Crude: UP 2.0 percent at $83.55 per barrel
West Texas Intermediate: UP 1.9 percent at $79.77 per barrel
burs-jmb/sst
F.Bennett--AMWN