2026.05.1416:38:15UTC+00S&P 500 Rises Past 7,500

US equities advanced again on Thursday, with continued strength in artificial intelligence infrastructure stocks offsetting broader macroeconomic headwinds. The S&P 500 rose 0.8%, closing above 7,500 for the first time, while the Nasdaq pushed past 29,500 and the Dow climbed above 50,000. Bullish guidance from AI-related companies helped underpin the broader market despite pressures from elevated energy prices linked to the blockade in the Persian Gulf and a more hawkish outlook for the Federal Reserve—concerns that were further reinforced by a 0.5% increase in the retail sales control group.

Cisco gained 15% after reporting strong earnings and upbeat forecasts, while also announcing plans to cut 4,000 jobs as part of an effort to improve productivity. Nvidia rose 4.5%, extending its rally this month to 15%, after the United States cleared 10 Chinese firms to receive its H200 chips. The announcement coincided with President Trump’s visit to Beijing alongside several major tech CEOs, with both sides so far maintaining a de-escalatory tone since the trade war peaked last year.