Stock market today: S&P 500 crosses 6,500, Dow hits record after Nvidia earnings, surprise GDP jump

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0;switch(e){case"expanded_panel":o='{promoMarkup}{notifMarkup}',r=n._store.getNotifications(),a=n._generatePanelMarkup(o,r),i.innerHTML=a;break;case"error_panel":a=(o='{errorMsg}').replace("{errorMsg}",n._config.panel.errorMsg),i.innerHTML=a}t&&t()}else t&&t(new Error("No panel parent"))}},{key:"createPanelParentNode",value:function(e){e&&(e.innerHTML='',this._panelNode=document.getElementById(D))}},{key:"updateBadgeNode",value:function(e){if(e){var t=this._store.getNotifications().newCount,n=this._config.badge.maxCount;if(t){var o=t>n?n+"+":t;e.innerHTML=o}else e.innerHTML=""}}},{key:"addStyles",value:function(e){if(e&&"undefined"!=typeof window){var t=document.getElementById(this._config.panel.styleTagId);t||((t=document.createElement("style")).type="text/css",t.id=this._config.panel.styleTagId,t.innerText=e,document.head.appendChild(t))}}}]),e}(),U=function(){function e(t,n,o){L(this,e);var i=this;i._store=n,i._view=o,i._config=t;var 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the way higher, rising 0.5% to close just shy of a fresh record. The S&P 500 (^GSPC) rose 0.4%, crossing the 6,500 level for the first time as it set a second-consecutive all-time high. The Dow Jones Industrial Average (^DJI) ticked up 0.2%, enough to notch its own record.The government said US GDP rose 3.3% in the second quarter, a surprise bump up from its first estimate and a broad rebound from the 0.5% dip in Q1. That was due to a variety of factors — notably, a decrease in imports that followed a Q1 import surge to "front-run" tariffs, as well as a healthy pickup in consumer spending. Meanwhile, jobless claims fell as layoffs remained low.Another economic test looms on Friday, with the July reading on PCE consumer inflation, closely watched by the central bank, due in the morning.Investors were also watching the ongoing dispute between Trump and Cook. On Thursday, Cook sued the president after refusing to bow to his termination letter earlier this week — the biggest test yet of the central bank’s independence from executive branch influence.Meanwhile, the initial cloud over Nvidia lifted as investors dug into its quarterly report, seen as a test of the AI trade driving stock gains this year. The chipmaker's shares closed down nearly 0.8%, paring bigger immediate post-earnings losses, as the company's disappointing data center sales and uncertainty over its future in China overshadowed its earnings beat.Nvidia stressed that demand for its AI chips — which power applications like ChatGPT remotely from data centers — is healthy, countering recent fears of an AI bubble about to burst. CEO Jensen Huang touted "extraordinary" demand for the company's Blackwell AI GPUs (graphics processing units).Huang also told Yahoo Finance that the company is getting "fired back up" to sell chips into the $50 billion China AI market following a short-lived export ban, though geopolitical uncertainty remains an overhang on that opportunity.Read more: The latest on Trump's tariffsLIVE COVERAGE IS OVER 26 updatesThu, August 28, 2025 at 9:00 PM UTCGrace O'DonnellS&P 500 6,500 marks a major milestone for the indexAll three major stock indexes rose on Thursday.The Dow hit a record high. The Nasdaq just missed a record high. But it was the S&P 500 that not only hit a record high but crossed a major milestone when it surpassed 6,500.As the chart below shows, it only took 196 days to climb 500 points. It's all the more impressive considering April's trough, when the S&P 500 closed below 5,000 at one point.Thu, August 28, 2025 at 8:03 PM UTCGrace O'DonnellStocks close higher, S&P 500 and Dow notch record highsStocks shook off a choppy morning of trading to end the day higher on Thursday as a surprise 3.3% rise in US GDP offset concerns about Fed independence and Nvidia's data center revenue came up a bit short.The S&P 500 (^GSPC) notched its second consecutive record high on Thursday, rising 0.2% and climbing above the 6,500 level for the first time.The tech-heavy Nasdaq Composite (^IXIC) led Thursday's gains, rising 0.65%, while the Dow Jones Industrial Average (^DJI) lagged but still ended the day in the green and with a record high of 45,636.90.Nvidia (NVDA) stock closed 0.8% lower after investors mulled its second quarter earnings report.The 10-year Treasury yield (^TNX) fell 3 basis points to 4.20%. Gold (GC=F) also continued its weekly rally, climbing 0.8% to $3,476 an ounce.Thu, August 28, 2025 at 8:00 PM UTCInes FerréEthereum pulls back from recent rally, bitcoin steadiesEthereum pulled back nearly 2% to fall below $4,500 on Thursday, taking a breather from a recent rally driven by a rotation out of bitcoin (BTC-USD).Ether, the native token of the Ethereum blockchain, has staged a stunning rally in recent months, surging roughly 200% from April lows compared to a 45% rise in bitcoin during the same period.On Thursday bitcoin traded above $112,000, recovering from a dip below $110,000 earlier this week.“Institutional interest is shifting toward ETH and away from BTC as investors realize the unique yield-generation potential of Ethereum," said Kean Gilbert, head of institutional relations at the Lido Ecosystem Foundation.Gilbert noted that over the past month, ETH ETFs saw $455 million in inflows, while BTC ETFs saw only $88 million of inflows over the same period. Interest in accumulating ETH in treasuries has expanded too.Thu, August 28, 2025 at 7:15 PM UTCInes FerréTrump tariffs are increasingly forcing countries to pick sides between the US and ChinaYahoo Finance's Ben Werschkul reports:Read more here. Thu, August 28, 2025 at 6:34 PM UTCInes FerréS&P 500 touches 6,500 for first time everThe S&P (^GSPC) touched 6,500 for the first time on Thursday after a larger-than-expected GDP print and Nvidia (NVDA) earnings fueled AI optimism.The broad-based index was on pace to close at a record for the second day in a row, up more than 10% year to date. The S&P 500 has made a stunning recovery from the April lows following President Trump's tariff policy unveiling.Thu, August 28, 2025 at 6:30 PM UTCInes FerréThe shine isn't off Nvidia, but analysts grow more cautious on its growth: Wall Street reactionsYahoo Finance's Francisco Velasquez reports:Read more here. Thu, August 28, 2025 at 5:55 PM UTCGrace O'DonnellBest Buy stock falls as guidance reveals doubts about tariff impactsYahoo Finance's Brooke DiPalma reports:Read more here.Thu, August 28, 2025 at 5:24 PM UTCInes FerréNvidia's auto business surges 69% from self-driving techYahoo Finance's Pras Subramanian reports:Read more here. Thu, August 28, 2025 at 4:14 PM UTCGrace O'DonnellMortgage rates hit fresh 2025 lows despite Trump-Fed dramaYahoo Finance's Claire Boston reports:Read more here.Thu, August 28, 2025 at 3:30 PM UTCLaura BrattonWalgreens goes private as Sycamore closes deal, Staples CEO to replace Tim WentworthYahoo Finance's Anjalee Khemlani reports:Read the full story here.Thu, August 28, 2025 at 3:00 PM UTCLaura BrattonTesla's Europe sales crater 40% in July as BYD, competitors gainYahoo Finance's Pras Subramanian reports:Tesla stock fell more than 1% Thursday. Read the full story here.Thu, August 28, 2025 at 2:41 PM UTCGrace O'DonnellStocks turn lower after Fed governer Lisa Cook sues Trump and the FedThe major stock gauges all turned lower after Lisa Cook, a governor on the Federal Reserve Board, sued President Trump, the Board of Governors of the Federal Reserve System, and Fed Chair Jerome Powell on Thursday. Cook alleged that the president's move to fire her illegally deprived her of her due process right to respond to accusations that she committed mortgage fraud.The Dow Jones Industrial Average (^DJI) dipped 0.2%, while the S&P 500 (^GSPC) declined by 0.1% and the Nasdaq Composite (^IXIC) bounced around the flat line, in a muted response to the news. The VIX volatility index remained at a low level — 14.44.Yahoo Finance's Alexis Keenan reports:Read the full story here.Thu, August 28, 2025 at 2:34 PM UTCLaura BrattonCoreWeave rises 6% after Nvidia shoutoutCoreWeave (CRWV) stock rose 6.5% Thursday morning on the heels of a shoutout from Nvidia.During Nvidia's (NVDA) second quarter earnings call, CFO Colette Kress highlighted CoreWeave as an early adopter of its next generation Blackwell Ultra GB300 AI servers.Kress said, "We expect widespread market availability in the second half of the year as CoreWeave prepares to bring their GB300 instance to market..."CoreWeave's boost also came after commentary from CFO Nitin Agrawal to Deutsche Bank (DB) analyst Brad Zelnick during a presentation at the investment bank's tech conference Wednesday."CoreWeave is well positioned both from a technology execution as well as from a financing strategy standpoint to take advantage of the hyper growth that's happening in the AI space," Agrawal said, noting that the company has signed expansion contracts with its "hyperscaler" customers "in the last 8 weeks or so."Still, skeptics on Wall Street say CoreWeave's mounting debt and its business model are risky.Thu, August 28, 2025 at 2:07 PM UTCLaura BrattonSnowflake jumps 17% after raising full year outlookSnowflake (SNOW) stock soared Thursday morning after the software giant raised its full year outlook for product revenue to $4.4 billion from $4.3 billion.Analysts across the board raised their price targets on the stock as high as $285, according to Bloomberg data.The company reported second quarter earnings Wednesday, beating Wall Street's expectations on earnings and revenue."Snowflake remains at the forefront of innovation with its cloud-based data platform providing advanced capabilities for data processing and warehousing while looking to simplify platform architectures for customers across all industries," wrote Wedbush analyst Dan Ives in a note to clients Thursday.Thu, August 28, 2025 at 1:42 PM UTCLaura BrattonTech leads advance in US stocks at the openTech led US stocks mostly higher at the open of Thursday's trading session as Wall Street continued to digest earnings results from AI chipmaker Nvidia (NVDA) — the latest big test of the AI trade.The tech-heavy Nasdaq Composite (^IXIC) rose 0.4%, while the S&P 500 (^GSPC) ticked up nearly 0.2%, adding to an all-time high set on Wednesday. The Dow Jones Industrial Average (^DJI) fell below the flat line.Nvidia (NVDA) recovered most of its initial losses early Thursday, trading down fractionally. The company's shares had fallen around 3% in after hours trading Wednesday as its second quarter data center sales were below Wall Street's expectations and uncertainty around its business in China persisted.Thu, August 28, 2025 at 1:16 PM UTCBrooke DiPalmaBuild-A-Bear Workshop stock soars after posting record revenue, raising guidanceBuild-A-Bear Workshop (BBW) stock moved higher Thursday after the experiential retailer beat Wall Street's expectations with record revenue and raised its full-year guidance.In the second quarter, revenue grew 11.1% to a record $124.2 million, higher than the street's expected $116 million, per Bloomberg consensus data. It delivered adjusted earnings of $0.94, more than the forecasted $0.69."This unprecedented start to the year is largely a result of a long-term focus on monetizing Build-A-Bear's unique position in the marketplace, multi-generational appeal and exceptional brand recognition to scale the business with innovative initiatives across three strategic pillars," CEO and President Sharon Price John told investors on its earnings call.The company also raised its 2025 fiscal-year guidance."When considering these results were achieved in a wide variety of economic challenges and geopolitical shifts, they serve as a valuable source of confidence in our team, our brand, our plans and the company's future," Price John told investors, "With that in mind, while we understand a meaningful portion of the year remains and acknowledge the potential for some economic uncertainty ahead, we also believe it is appropriate to increase our 2025 guidance at this juncture."It now expects revenue to grow on a mid-to-high single-digit basis, up from the previously expected mid-single-digit increase.It also plans to open more locations, now in the range of at least 50 to 60.Thu, August 28, 2025 at 1:00 PM UTCGrace O'DonnellNvidia stock pares losses as investors ponder the chipmaker's earnings reportNvidia (NVDA) shed some of its post-earnings stock losses on Thursday morning after reporting its second quarter results, which beat estimates but contained some disappointment (data center revenue, for instance).Nvidia stock dropped 4% initially after its earnings release. On Thursday, shares were down just 0.2% as markets continued to digest the $4 trillion company's report.Although Nvidia earnings may have overshadowed them, earnings picked up on Wednesday and Thursday. Here's a look at how a handful of other stocks are trading after reporting quarterly results:For more on what's driving these moves, check out our live coverage of corporate earnings.Thu, August 28, 2025 at 12:45 PM UTCGDP grows at 3.3% annualized pace in Q2, in bump from previous estimateUS GDP grew at a 3.3% annualized pace last quarter, according to the government's second estimate released Thursday. That's a bump up from the 3.0% from its first estimate, and also higher than the 3.1% forecast.The GDP growth comes after the US economy shrank at a 0.5% annualized pace in the first quarter.The Bureau of Economic Analysis, which tracks GDP, said the Q2 bump "primarily reflected a decrease in imports, which are a subtraction in the calculation of GDP, and an increase in consumer spending."President Trump's tariffs have upended the economic landscape, with imports surging — thus subtracting from GDP — in Q1 as businesses and consumers attempted to "front-run" tariff-related price increases.In other economic data, initial jobless claims fell slightly from last week, coming in at 229,000 compared to 234,000 the week prior. As layoffs remained low, however, hiring also is staying tepid.Thu, August 28, 2025 at 12:30 PM UTCKaren FriarBig banks are rallying big time. Can it last?Hope that the Federal Reserve may soon lower interest rates in September is fueling a new leg to this year’s rally in large US bank stocks.Yahoo Finance's David Hollerith reports:Read more here.Thu, August 28, 2025 at 11:50 AM UTCKaren FriarThe real winners in the stablecoin shiftStablecoins promise to shake up the payments sector — and the outcome could be good for American shoppers, Yahoo Finance's Hamza Shaban says in today's Morning Brief.He reports:Read more here.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,460.26 -41.60 (-0.64%)Dow 3045,544.88 -92.02 (-0.20%)Nasdaq21,455.55 -249.61 (-1.15%)Russell 20002,366.42 -11.99 (-0.50%)VIX15.36 +0.93 (+6.44%)Gold3,516.10 +41.80 (+1.20%)PortfolioSign in to access your portfolioSign inTop gainersAMBA Ambarella, Inc. 82.48 +11.85 (+16.78%)IREN IREN Limited 26.48 +3.44 (+14.93%)BABA Alibaba Group Holding Limited 135.00 +15.43 (+12.90%)AFRM Affirm Holdings, Inc. 88.46 +8.47 (+10.59%)DOOO BRP Inc. 62.98 +5.49 (+9.55%)Top losersMRVL Marvell Technology, Inc. 62.87 -14.36 (-18.60%)CHA Chagee Holdings Limited 19.11 -2.89 (-13.14%)RMBS Rambus Inc. 73.77 -7.32 (-9.03%)DELL Dell Technologies Inc. 122.15 -11.90 (-8.88%)BLSH Bullish 59.03 -5.40 (-8.38%)Most activeWBA Walgreens Boots Alliance, Inc. 11.98 0.00 (0.00%)OPEN Opendoor Technologies Inc. 4.4500 +0.1800 (+4.22%)NVDA NVIDIA Corporation 174.18 -5.94 (-3.30%)LCID Lucid Group, Inc. 1.9800 -0.0900 (-4.35%)MRVL Marvell Technology, Inc. 62.87 -14.36 (-18.60%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersBABA Alibaba Group Holding Limited 135.00 +15.43 (+12.90%)BTC-USD Bitcoin USD 108,251.91 -3,392.62 (-3.04%)^IXIC NASDAQ Composite 21,455.55 -249.61 (-1.15%)FLYY Spirit Aviation Holdings, Inc. 1.2200 -0.0300 (-2.40%)ORCL Oracle Corporation 226.13 -14.19 (-5.90%)Top economic events