Both the S&P 500 and the tech-heavy Nasdaq reached new peaks, with the Nasdaq surpassing its previous record set in 2021. This surge was driven by strong gains for companies like Facebook owner Meta and Nvidia, a leading AI chipmaker. Nvidia's stock price jumped significantly, pushing its market value above $2 trillion for the first time ever. The company's value has doubled in just nine months!

This positive trend extended beyond the US, with Japan's Nikkei index also hitting a record high. This rally is largely attributed to the promising potential of AI and its impact on various industries.

Investors remain optimistic about the US economy, despite the expectation of rising interest rates. While a resilient economy is a positive sign, it might lead the Federal Reserve to delay lowering interest rates, as initially anticipated for June. However, investors believe this gradual approach could be beneficial in the long run, preventing the need for drastic rate cuts in the future.

Here's a quick summary of the key points:

• US stock markets, including the S&P 500 and the Nasdaq, reached record highs on Friday.
• This surge is driven by investor enthusiasm for AI and a positive economic outlook.
• Nvidia, a leading AI chipmaker, surpassed a market value of $2 trillion.
• The Federal Reserve might delay lowering interest rates due to the strong economy.