Nvidia's market capitalization is approaching $5 trillion, while Microsoft is returning to $4 trillion.

On October 28th, Eastern Time, the U.S. stock market continued its recent strong performance, with all three major indexes closing higher and setting new records.

By the close, the Nasdaq Composite Index rose 0.8%, the Dow Jones Industrial Average climbed 0.34%, and the S&P 500 also achieved a solid gain of 0.23%, collectively marking new milestones for the U.S. stock market.

The technology sector performed particularly well, with the share prices of several major companies reaching new highs. Nvidia, a leading artificial intelligence chip company, surged approximately 5%, continuing its recent strong performance, with its total market capitalization approaching the $5 trillion mark, demonstrating the market's continued optimism about the prospects of the AI industry.

Microsoft also rose approximately 2%, successfully returning its total market capitalization to above $4 trillion, demonstrating its solid position in enterprise services and cloud computing.

Other tech giants also performed well: Intel closed up over 5%, Tesla and Amazon each gained over 1%, and Apple, Netflix, and Meta also saw small gains. However, market performance was slightly mixed, with Google's parent company Alphabet experiencing a slight pullback.

Of particular note is the explosive growth of some individual stocks. Nokia's ADR surged approximately 23%, its largest single-day gain since January 2021; online home furnishings retailer Wayfair also surged over 23%, closing at its highest level since April 2022, demonstrating strong market confidence in specific sectors and individual stocks.

Overall, the US stock market continued its strong momentum, led by technology stocks. Investors' enthusiasm for cutting-edge technologies like artificial intelligence and cloud computing continued to surge, pushing major indices to new all-time highs and setting an optimistic tone for fourth-quarter trading.