The S&P 500 hit its highest levels on record on Thursday and was on track for its 20th closing high of the year.
The market benchmark was up 0.3% on Thursday after beginning the day with some sideways trading. It set a fresh intraday trading high of 6498.93, and any close higher would build on Wednesday’s closing record.
The Nasdaq Composite was up 0.5%, which put it about 10 points away from its Aug. 13 closing high. It’s already hit 20 record closes this year, according to Dow Jones Market Data.
The Dow was up 20 points but still a bit off from its Aug. 22 record of 45,631.74. If it closes up 67 points, it would mark its second record close of the year.
There wasn’t much going on in markets. Nvidia’s earnings didn’t spark a broader market reaction, though some tech stocks that have benefitted from the AI rally were gaining after Nvidia’s report didn’t pour any cold water on the trend. The Roundhill Magnificent Seven ETF was up 0.5%; Tesla and Nvidia were the only members of the group of megacap tech stocks that were down on the day.