The stock market is up today primarily due to renewed investor confidence that the Federal Reserve may cut interest rates in the upcoming September meeting, following dovish comments from Fed Chair Jerome Powell in his recent speech at Jackson Hole. Additionally, strong earnings reports, especially from Nvidia with its 56% revenue jump driven by AI demand, have fueled optimism across tech and AI-related stocks. The broader markets, including the Dow, S&P 500, and Nasdaq, have reached new record highs, supported by strong economic data such as a surprising 3.3% rise in U.S. GDP and robust consumer spending. Investors are viewing AI as a major structural driver of growth, with enthusiasm for continued technological innovation and corporate investments in AI sectors. However, markets are also positioning cautiously ahead of key inflation data to be released soon.