S&P 500, Nasdaq, Dow close at record highs

Major U.S. stock indexes closed at record levels on Friday, capping a strong month of May fueled by corporate earnings and enthusiasm for artificial intelligence technology. The S&P 500 and Nasdaq Composite both set new closing highs, while the Dow Jones Industrial Average also finished the session at a record level.

The S&P 500 rose 0.58 percent to close at 7,563.63, positioning the benchmark index for its ninth consecutive week of gains. The Nasdaq Composite gained 0.91 percent to finish at 26,917.47. The Dow Jones Industrial Average inched up 0.05 percent to 50,668.97. The simultaneous record closes for the three major indexes marked a significant milestone, as previous rallies had often seen the Dow lagging behind the technology-heavy Nasdaq and S&P 500.

A surge in technology and software shares provided the primary momentum for the market's advance. Dell Technologies saw its stock soar nearly 40 percent in after-hours trading following a quarterly earnings report that substantially exceeded analyst forecasts. The company attributed its performance to strong demand for its AI server products, which incorporate Nvidia processors. Management provided an upbeat outlook, stating...