NEW YORK (AP) — Wall Street is rising toward more records on Thursday as Nvidia and Intel lead a rally for technology stocks after announcing a deal that includes a $5 billion investment.
The S&P 500 rose 0.5% and was on track to squeak past its all-time high, which was set at the start of the week. The Dow Jones Industrial Average was up 88 points, or 0.2%, as of noon Eastern time, and the Nasdaq composite was 1% higher. Both were likewise flirting with records.
Intel soared 29.3% and was heading toward its best day since 1973 after Nvidia said it would buy $5 billion of the chipmaker’s stock.
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