Shares of technology companies rose amid artificial-intelligence optimism.
"Where things are priced for a rosy outlook is the tech space," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.
In recent quarters, AI darlings such as Nvidia and Microsoft have justified lofty expectations, but they will need to continue doing so to maintain investor confidence, Joyce said. "They need to continue to show their level of growth because they're priced up there," said Joyce.
In the latest evidence of a gold rush, Meta Platforms founder, Chairman, and Chief Executive Mark Zuckerberg vowed to spend hundreds of billions of dollars on the tech giant's pursuit of "Superintelligence," or AI that will perform intellectual work at least as well as the best humans.
Warner Brothers Discovery rose after a strong opening weekend for the studio's reboot of its DC franchise, "Superman."
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
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