The S&P 500 and Nasdaq climbed to new record highs on Thursday, as Microsoft's blockbuster earnings propelled the tech giant past the $4 trillion milestone and fueled investor confidence in Big Tech's hefty investments in artificial intelligence.

Stocks rose in morning trading on Wall Street Thursday and are on track for more record highs amid rallies for big technology stocks. The S&P 500 rose 0.2% and is just below the record high it set on Monday.

Microsoft topped analyst revenue expectations Wednesday, announcing fiscal fourth-quarter results that revealed cloud and artificial intelligence growth as shares of the company jolted in after-hours trading.

The widespread expectation on Wall Street is that Fed officials will wait until September to resume cutting interest rates, though a couple of Trump’s appointees could dissent in the vote. The Fed has been on hold with interest rates this year since cutting them several times at the end of 2024.

NEW YORK -- U.S. stock indexes are tiptoeing around their record levels on Tuesday as an incredibly busy week for Wall Street picks up momentum.

Wall Street’s weeklong, record-breaking run ran out of momentum. The S&P 500 slipped 0.3% Tuesday for its first drop after setting an all-time high in six straight days.