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US stocks rise as Dow Jones, S&P 500 hit fresh records

2025-08-29 HKT 05:54
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  • The Dow Jones climbed to a record 45,636, while the S&P 500 rose to 6,501, also a record. File Photo: Reuters
    The Dow Jones climbed to a record 45,636, while the S&P 500 rose to 6,501, also a record. File Photo: Reuters
Two of Wall Street's major indexes closed on Thursday at record highs, buoyed by an upward revision to second-quarter US GDP and strong results from AI chip giant Nvidia.

The Dow Jones Industrial Average climbed 0.16 percent to a record 45,636, while the broad-based S&P 500 Index rose 0.32 percent to 6,501, also a record.

The Nasdaq Composite Index added 0.53 percent to 21,705.

The United States saw its gross domestic product grow at an annualised rate of 3.3 percent in the second quarter, according to an official estimate updated on Thursday -- higher than previously calculated and above market expectations.

The initial GDP estimate for the period, published in late July, showed annualised growth of 3 percent, while investors had expected a revision to only 3.1 percent.

Meanwhile, markets continue to be buoyed by the prospect of a Federal Reserve rate cut at its September meeting, which could stimulate economic activity in the world's biggest economy. (AFP)

US stocks rise as Dow Jones, S&P 500 hit fresh records