S&P 500 climbs above 5,500 record-high level for 1st time in history

The S&P 500 climbed above the 5,500 record-high level for the first time in history as U.S. stocks opened Thursday with gains.

The S&P 500 added 17 points, or 0.31%, to 5,504 at 9.47 a.m. EDT (1347GMT). The Nasdaq gained 63 points, or 0.35%, to 17,925.

The Dow Jones, meanwhile, increased 106 points, or 0.27%, to 38,941.

Nvidia's stock price jumped 3.27% to a new all-time high of $140.02 per share at the time, while its market value stood at $3.44 trillion.

The chipmaker's market cap surpassed Microsoft's during Tuesday's session to become the world's most valuable company.

The VIX volatility index, also known as the fear index, rose 2.6% to 12.81. The 10-year U.S. Treasury yield added 3.2% to 4.282%.

The dollar index increased 0.2% to 105.46, while the euro lost 0.13% to $1.0728 against the greenback.

Precious metals were in the green, with gold rising 0.8% to $2,348 per ounce and silver gaining 2% to $30.33.

Oil prices were up around 0.7%, with global benchmark Brent crude at $85.77 and U.S. benchmark West Texas Intermediate at $81.25.

The New York Stock Exchange was closed on Wednesday due to the observance of Juneteenth National Independence Day to commemorate the ending of slavery in the U.S.