US inflation growth was lower than expected, and the three major US stock indices all closed at record closing highs on Wednesday.
Nasdaq closed 231 points or 1.4% higher at 16,742, the 8th record closing high this year. S&P 500 closed 61 points or 1.2% higher at 5,308, the 23rd record closing high this year. DJIA closed 349 points or 0.9% higher at 39,908, the 18th record closing high this year.
Rallies of Chip AI stocks supported the Nasdaq. Super Micro Computer (SMCI.US) closed rocketing nearly 16%. Advanced Micro Devices (AMD.US) and QUALCOMM (QCOM.US) lifted over 3% to 4%, NVIDIA (NVDA.US) elevated more than 3%, and Micron (MU.US) inclined 2%.
As for the "Magnificant Seven", Meta (META.US) gained 2%, while Alphabet (GOOG.US) and Apple (AAPL.US) each gained 1%. Tesla (TSLA.US) maintained its decline throughout the day, falling about 2% at close.
The meme stock frenzy faded. Brick-and-mortar game retailer GameStop (GME.US) and cinema chain AMC Entertainment (AMC.US) crashed 19% and 20% respectively on Wednesday.
(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)
