Magnificent Seven stocks drive the rally

The S&P 500 closed at an all-time high, reaching 4,839.81, as investors showed renewed interest in equities after a brief market stumble at the beginning of the year. The Dow Jones Industrial Average rose 1.05%, closing at 37,863.80, while the Nasdaq Composite increased by 1.70% to 15,310.97. The Nasdaq-100, a more tech-focused index, gained 1.95%, also reaching a record high. Chart from CNBC.

S&p 500 hits record highs

Nvidia has seen a significant surge of 19%, leading the pack among major tech companies. Meta Platforms follows with an 8.3% gain, Microsoft has rallied 5.4%, Alphabet is up 4.3%, and Amazon has added 2.1%. However, Apple and Tesla have experienced losses of 0.6% and 15.1%, respectively, during the same period.