"The S&P 500 index rose 1.02% yesterday to hit a new record high at 7,209, reflecting strong market performance despite mixed signals from other regions."
"Apple's quarterly revenue reached $111.2 billion, leading to a 2.8% increase in stock price after CEO Tim Cook introduced his successor, John Ternus."
"Corporate spending has been negative for six straight quarters, with growth in capex primarily driven by AI data centers, which are projected to reach $1 trillion by 2027."
The S&P 500 reached a record high of 7,209, with mixed performances in European and Asian markets. Apple reported strong quarterly revenue, boosting its stock. However, corporate spending has been negative for six consecutive quarters, primarily driven by AI data center investments. While overall capex is growing, it is largely due to tech companies planning significant investments in AI infrastructure, with projections reaching $1 trillion by 2027. The Federal Reserve is considering economic implications amid these trends.
Read at Fortune
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