The S&P 500 added 0.3% on Thursday, Aug. 28, 2025, achieving a record close following Nvidia’s earnings report and a positive revision to U.S. GDP growth.
Why it matters: The stock market’s performance reflects investor optimism driven by strong corporate earnings and positive economic indicators, despite challenges in various sectors.
The details:
- The S&P 500 advanced 0.3%, closing above 6500 for the first time, while the Dow gained 0.2%, joining the broader benchmark index in record closing territory.
- Nvidia shares fell less than 1% despite driving the daily surge following their earnings report, which highlighted strong demand for their AI chips.
- Datadog shares jumped 7%, building on gains from the previous session after a strong earnings report and the introduction of several new AI-driven products.
- Hormel Foods shares plummeted 13%, marking the steepest decline of any S&P 500 stock, due to missed profit estimates and increased commodity costs.
The government reported a surprise GDP bump, rebounding from a 0.5% dip in the first quarter, due to a decrease in imports and an increase in consumer spending.
What they’re saying:
- “Extraordinary” demand for their AI GPUs and plans to re-enter the $50 billion China AI market following a brief export ban, despite ongoing geopolitical uncertainties. – Nvidia CEO Jensen Huang
- Revised data showed U.S. gross domestic product grew at an annualized 3.3% in the quarter ending June, surpassing the consensus forecast of 3.1% by Dow Jones, as well as the Commerce Department’s initial estimate of 3%.
The other side: Challenges like commodity cost increases and international market pressures provide a mixed outlook for various sectors and companies.
What’s next: Investors remain focused on economic indicators, such as the July reading on PCE consumer inflation, and corporate earnings as drivers of market performance.
Recent from X
Stocks To Watch |📊Ready, set, trade! Keep an eye on these stocks as they set the market abuzz #StockMarket pic.twitter.com/h8WjZW3pjT
— ET NOW (@ETNOWlive) August 29, 2025
#MarketAlert | Wall Street rallies: S&P 500 tops 6,500 for 1st time, Dow & Nasdaq hit fresh highs ahead of key US PCE inflation data#StockMarket #WallStreet #SP500 #DowJones #Nasdaq #AITech #Inflation pic.twitter.com/1wSpoTK3Er
— ET NOW (@ETNOWlive) August 29, 2025
The S&P 500 just crossed above 6,500 for the first time, its 5th 100-point milestone of the year. Five years ago it was at 3,500. Ten years ago it was at 2,100. $SPX pic.twitter.com/nurSkPS5D6
— Charlie Bilello (@charliebilello) August 28, 2025
S&P 500 closes at another record high as Nvidia results validate AI boom @CNBC https://t.co/MWbP6AyOLY
— Jennifer Ablan (@jennablan) August 28, 2025
