Meta Platforms Inc. and Microsoft Corp. have driven the S&P 500 and Nasdaq 100 to record highs. On Thursday, the S&P 500 increased by 0.7%, while the Nasdaq 100 surpassed 24,500, setting new intraday records. Meta's stock jumped 11% after reporting strong Q2 results and positive revenue forecasts, and Microsoft gained 5% on strong Azure revenue growth. The combined market value of the leading tech firms, known as the 'Magnificent Seven,' has surpassed $19.4 trillion. Despite higher-than-expected inflation, with the Personal Consumption Expenditures price index rising to 2.6% in June, the Federal Reserve kept interest rates steady in July. In the cryptocurrency market, Bitcoin saw a 0.9% increase, reaching $118,871.