Intel’s best day since the 1980s helps drive Wall Street to more records

Group 1: Market Performance - Wall Street reached new record highs, with the S&P 500 rising 0.5%, the Dow Jones Industrial Average increasing by 124 points (0.3%), and the Nasdaq composite climbing 0.9% [1] - Smaller stocks outperformed larger ones, with the Russell 2000 index of small stocks rallying 2.5% to set an all-time high [6] Group 2: Company Developments - Intel's stock surged 22.8%, marking its best day since 1987, following Nvidia's announcement of a $5 billion investment in Intel's stock as part of a collaboration to develop products for data centers and personal computers [2] - Nvidia's stock increased by 3.5%, contributing significantly to the S&P 500's performance as it remains Wall Street's most valuable company [2] - Novo Nordisk's stock rose 6.3% after a study indicated that its once-a-day pill version of Wegovy significantly aided weight loss and that its Ozempic product reduced the risk of heart attack, stroke, and death for certain type 2 diabetes patients [7] Group 3: Economic Indicators - Reports indicated a decrease in U.S. unemployment benefit applications, suggesting a potential slowdown in layoffs, which is a positive sign for the job market [3] - The Federal Reserve cut its main interest rate for the first time this year, with expectations of further cuts, although there are concerns about the impact on inflation and the job market [4][5]