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Nvidia ( NVDA ) hits all-time high

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Dell, Super Micro providing server racks for xAI's

supercomputer

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Accenture ( ACN ) gains as annual revenue growth forecast tops

estimates

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Indexes up: Dow 0.28%, S&P 0.54%, Nasdaq 0.29%

(Updated at 9:51 a.m. ET)

By Shubham Batra and Ankika Biswas

June 20 (Reuters) - The benchmark S&P 500 touched a

record high on Thursday, boosted by strong gains in Nvidia ( NVDA ),

while investors assessed the recent economic data and commentary

from Federal Reserve officials to gauge the timing for interest

rate cuts this year.

Nvidia ( NVDA ) shares gained 3.1% to an all-time high, and

were set to extend the semiconductor bellwether's lead as the

world's most valuable company, after Dell and Super

Micro Computer ( SMCI ) received server orders for Elon Musk's

AI startup. Dell and Super Micro's shares rose 5.5% and 9.2%,

respectively.

Nvidia ( NVDA ) dethroned Microsoft ( MSFT ) on Tuesday to become the

world's most valuable company. The continued surge by the AI

chip leader and softer-than-expected U.S. retail sales data

pushed the S&P 500 and the Nasdaq to close at record highs in

the previous session.

Chip stocks Marvell Technology ( MRVL ) and Advanced Micro

Devices ( AMD ) also climbed 2.3% and 4.5%, respectively, on

Thursday.

The S&P 500 Technology index notched a record

high, emerging as one of the top sector gainers, also boosted by

a 5.7% jump in Accenture ( ACN ) after the IT services provider

projected annual revenue growth above estimates.

The number of Americans filing new claims for unemployment

benefits fell last week, but overall strength in the jobs market

persisted despite a gradual cooling. Another set of data showed

U.S. single-family homebuilding fell in May amid continued high

mortgage rates.

"Weekly jobless claims came pretty much in line, still

indicating a relatively good jobs market, housing was a little

bit light, but that number's been all over the place," said Paul

Nolte, senior wealth advisor and market strategist for Murphy &

Sylvest.

"And generally speaking, housing has been good. I don't

think this changes the housing outlook at all, and that's part

of the reason why you're not getting much of a reaction in the

financial markets."

Minneapolis Fed President Neel Kashkari said it will take a

year or two to get inflation back to 2% as wage growth might

still be a bit too high, spurring worries of rates staying

elevated for longer.

Money markets currently see a 58% chance of a 25-basis point

rate cut by the U.S. central bank in September, according to

LSEG's FedWatch data.

At 9:51 a.m. ET, the Dow Jones Industrial Average was

up 109.08 points, or 0.28%, at 38,943.94, the S&P 500 was

up 29.81 points, or 0.54%, at 5,503.04, and the Nasdaq Composite

was up 52.21 points, or 0.29%, at 17,914.44.

Hewlett Packard Enterprise ( HPE ) was up 2.2%. Britain's

competition regulator said it was investigating whether the

company's planned $14 billion acquisition of Juniper Networks ( JNPR )

would result in competition concerns.

Trump Media & Technology Group ( DJT ) tumbled 14.1% on

potential equity dilution after the U.S. Securities and Exchange

Commission declared effective the company's filing for resale of

certain shares and warrants, giving it about $247 million in

proceeds.

Advancing issues outnumbered decliners for a 1.18-to-1 ratio

on the NYSE and a 1.00-to-1 ratio on the Nasdaq.

The S&P index recorded 19 new 52-week highs and four new

lows, while the Nasdaq recorded 27 new highs and 118 new lows.