The Nasdaq Composite and the S&P 500 reached record highs following a Tuesday session of mixed earnings.
The Nasdaq Composite Index closed at 16,832.62, up 0.2 percent for the day and a record for the second straight session. The S&P 500 also posted a new high, which stood at 5,321.41. The Dow Jones Industrial Average also advanced 0.2 percent to 39,872.99.
"There really isn't much economic news to speak of," said Cresset Capital's Jack Ablin, who pointed to Wednesday's earnings report from Nvidia as one of the highlights of the week. Nvidia was up 0.6 percent.
Ablin added that the stock market is probably "overbought" at this point, adding that, "relative to bonds, the stock market is probably the most expensive it's been since the financial crisis."
All three major indices scored records last week following data showing a moderation in inflation. Fed governor Christopher Waller welcomed last week's consumer price index report that showed moderating inflation, while adding that "several" months of additional data were needed before interest rates should be cut.
Among individual companies, Nvidia was up 0.6 percent. Lowe's dropped 1.9 percent; Trump Media & Technology Group slumped 8.7 percent; and Disney nudged up 0.1 percent.
