AI Shakes Up Wall Street! Tech Stocks Drive Market Surge

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Market Rally Strengthens
The S&P 500 continued its streak of gains, rising 0.6% as tech stocks paced the advance. Investors reacted favorably to a mix of artificial intelligence breakthroughs, solid employment numbers, and positive corporate earnings.

AI Breakthrough Triggers Growth
Constellation Energy Corp. won a contract to provide electricity from an Illinois nuclear facility to Meta Platforms Inc., supporting AI-fueled infrastructure growth.

Broadcom Inc. started shipping a new generation of its data center switch chips, improving efficiency of AI accelerators and calming investors.

Employment Data Bolsters Sentiment
US job openings unexpectedly increased in April, indicating continued labor demand regardless of economic concerns.

Hiring picked up, dispelling fears of a slowdown in workforce growth.

Corporate Earnings Improve Market Mood
Dollar General Corp. shares jumped 16% after the retailer updated annual guidance, calming tariff worries.

Signet Jewelers Ltd. rose 12% after a better profit forecast and updated sales estimates.

Joby Aviation Inc. rose 7.1% on news of a reported $1 billion air taxi deal with a Saudi investor.

Trade and Policy Developments
US-India trade agreement hopes were high from Commerce Secretary Howard Lutnick, and US and Chinese leaders are set to talk this week.

UK Business Secretary Jonathan Reynolds will sit down with US Trade Representative Jamieson Greer to discuss tariff cuts on UK steel exports.

Looking Ahead
Investors are still paying attention to growth driven by AI, labor market strength, and trends in corporate earnings. Global economic expectations do indicate a slowdown, but market sentiment remains influenced by policy changes and advances in technology.

Sources: Bloomberg, S&P Global Ratings, TheStreet, NewsWav.