IXIC: Nasdaq Composite Chases Record High as Stock Bros Rush to Load Up on Tech… Again

Tech index isn’t far off – just 10 points left and techies will be celebrating a fresh all time record. The index’s done that 20 times so far this year.

📈 Nasdaq Inches Toward Record Territory

• The Nasdaq Composite index IXIC gained 0.5% Thursday but stopped just shy of a new record close, leaving the index 8 points short of its 21st record close of 2025.
• The S&P 500 rose 0.3% to notch its 20th record close this year, landing just above 6,500 points, while the Dow Jones Industrial Average added 72 points, or 0.2%, marking its second all-time high hit in 2025.
• Despite Nvidia’s drop, tech momentum remains intact – traders aren’t waiting for green lights from the chipmaker to keep chasing growth-heavy names higher.

💻 Nvidia Slips, But AI Trade Still Dominates

• Nvidia delivered $46.7 billion in revenue (we’re talking 56% year-on-year growth) and an EPS beat, but its data center revenue and forward guidance didn’t blast off way above consensus. And that cooled investor enthusiasm.
• The stock, which has already rallied 50% this year to a $4.4 trillion market cap, slipped 0.8%, as investors demanded more fireworks after several blowout quarters. Still, it erased most of its 3% pre-market loss.
• Apparently, judging by the record revenue, demand for AI infrastructure remains robust. Broadcom AVGO, Palantir PLTR, CoreWeave CRWV, and other AI-linked names rallied after Nvidia confirmed soaring chip demand – no cracks in the AI story yet.

🚀 Growth and Momentum Lead

• Investors rotated back into risk-heavy tech, high-beta names, and momentum stocks, leaving dividend plays and defensive sectors trailing behind.
• AI-adjacent plays outperformed broadly, showing traders are still willing to bet big on the sector even with some volatility around earnings.
• What can you make of this? A market that’s embracing risk-on mode, where fast-moving growth stocks are capturing flows despite elevated valuations and recent macro uncertainty.

📊 GDP Surprise Fuels Market Optimism

• In other news, The US economy grew 3.3% in the second quarter, smashing expectations of 3.0% and easing fears that rising rates or tariffs would choke growth.
• A stronger economy provides more support for corporate earnings, boosting investor confidence across tech, consumer, and industrial sectors.
• However, with upcoming PCE inflation data and the Fed’s rate path still uncertain (especially with all the noise around Lisa Cook’s firing), traders are positioning carefully ahead of the next wave of macro headlines.