Nasdaq and S&P 500 Reach New Highs, Dow Jones Closes Above 50,000 for the First Time in Three Months; Nvidia's Market Cap Hits $5.71 Trillion

On May 15, the three major U.S. stock indices closed higher, with the Nasdaq rising by 0.88%, the S&P 500 up by 0.77%, and the Dow Jones increasing by 0.75%. The Nasdaq and S&P 500 continued to set new highs, while the Dow closed above 50,000 for the first time in three months. Nvidia saw its stock rise for the seventh consecutive day, gaining over 4% in a single day and reaching a new high, with a total market capitalization of $5.71 trillion. AI chip manufacturer Cerebras Systems surged over 68% on its first day of trading. The leading AI optical interconnect company POET jumped over 43%. In news, the company partnered with optical interconnect infrastructure platform Lumilens to advance wafer-scale photonic integration. Microsoft rose over 1%, while Amazon fell over 1%. Tesla, Google, Apple, Meta, and Netflix experienced slight declines.