S&P 500 rises as AI breakthroughs boost tech stocks

The S&P 500 extended its gains on Tuesday, lifted by a report signaling a healthy US job market. Fresh figures revealed an unexpected surge in job openings and a pickup in hiring, Bloomberg reported.

The index rose 0.6%, with 8 of the 11 sectors leading the way. Artificial intelligence (AI) stocks garnered particular attention after Constellation Energy secured a power supply agreement with an Illinois nuclear plant. Additionally, Broadcom began shipping a new version of data center chips designed to enhance AI accelerators efficiency, according to the news agency.

US stocks opened lower on Tuesday after the OECD downgraded its global GDP growth forecast. The organization now projects world economic growth to slow to 2.9% this year, down from 3.3% in 2024. Markets reacted particularly strongly to the revised US outlook, with 2025 GDP growth now expected at just 1.6%.