Market Surge: AI Deals Propel Nasdaq and S&P 500

The U.S. stock market witnessed a strong start to November, driven by AI-related deals that boosted major firms like Amazon and Nvidia. The Nasdaq and S&P 500 showed gains as investors await more economic data amidst ongoing debates surrounding monetary policy and tariffs.

The U.S. stock market kicked off November on a high note, with significant gains recorded by the Nasdaq and S&P 500. This surge was influenced by a wave of AI-centered deals that elevated tech giants such as Amazon and Nvidia.

Amazon hit a landmark high after securing a $38 billion agreement to supply cloud services to OpenAI. The deal links OpenAI with Nvidia for high-performance graphics processing, marking significant market movements.

As the market watches key earnings reports, discussions over monetary policies and anticipated economic data continue to cast a shadow of uncertainty. The acquisition news of Kenvue by Kimberly-Clark and industry performance reports further highlight the dynamic market economy.

(With inputs from agencies.)