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AI optimism sends Nasdaq to new post-Covid high
Investors expect artificial intelligence to unleash a new wave of growth.
Smaller chipmaker AMD and PC maker Dell, which is poised to benefit as firms invest in new equipment to handle AI-powered computing, also climbed on Thursday. On Thursday, the US's Department of Commerce said the personal consumption expenditures (PCE) price index, an alternative inflation measure that is watched by the Federal Reserve, fell to 2.4% in January, down 0.2% from December. Earlier in February, Japan's main stock index hit an all-time closing high, surpassing the previous record set 34 years ago, even as the country's economy fell into a recession.
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