US stocks today: S&P 500 and Nasdaq notch records as AI chip stocks surge

May 5, 2026

The S&P 500 and Nasdaq reached record highs, driven by AI-related stocks like Intel and strong quarterly earnings. A U.S.-Iran ceasefire held, easing geopolitical concerns. Investors focused on robust corporate profits, with S&P 500 companies on track for significant year-over-year earnings growth, bolstering market optimism.

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