Nasdaq Closes at a Record High for the Second Day in a Row as a Meta Chatbot Reignites the AI Trade
Nasdaq record high AI stocks are back in focus after the index closed at an all-time high for the second day running. The Nasdaq Composite closed Tuesday at 27,244.28, up 122 points, its second consecutive all-time closing high after touching an intraday peak of 27,288.79 during the session. It followed an even bigger move a day earlier, when the index jumped 599 points, a 2.26% gain, its sharpest single-day rise since early August, to end Monday at 27,122.09, breaking a record that had stood since June.
What's pulling the index higher isn't a broad market story. It's a narrow one, concentrated almost entirely in technology and semiconductor names, and it traces back to a single product launch. Meta released a new autonomous AI assistant called Muse earlier this month, and within roughl...