Pre-Market Pulse 23rd February – Stocks ride Nvidia to record highs
Stocks climbed to record highs after Nvidia’s blowout earning reinforced investor optimism in artificial-intelligence boom, ushering in a sea of green across tech stocks.
Stocks climbed to record highs after Nvidia’s blowout earning reinforced investor optimism in artificial-intelligence boom, ushering in a sea of green across tech stocks.
Stocks struggled overnight as sentiment was further soured following the release of the minutes of the Federal Reserve’s January meeting showing members were concerned about cutting interest rates too soon.
Stocks fell Tuesday, as investors paused bullish bets on tech stocks ahead of quarterly results from the Nvidia and the minutes from the Federal Reserve’s January meeting due later this week.
SPI futures flat, US Markets closed. BHP Increases dividend despite lower profits
Stocks ended their 6-week winning streak as data this week showing inflation remains rein in investor bets on sooner rather later rate cuts.
Stocks climbed Thursday, as a jump in energy and small-caps supported the ongoing rally and offset an Apple-led dip in tech and economic data showing possible signs of weakness in the consumer.
The Dow edged higher while Treasury yields slipped on Wednesday as investors tried to assess the timing of possible interest rate cuts from the Federal Reserve, while the dollar eased off of a three-month peak against the yen.
The Dow had its worst day in 11 months as US inflation numbers all but wiped out hopes of aggressive rate cuts in the first half of this year.
The Dow closed at record highs Monday, led by energy stocks ahead of a busy week of top-tier economy data, and fresh round of corporate earnings.
Equities surged higher with the S&P500 closing above 5,000 for the first time on Friday and Nasdaq briefly traded above 16,000, with boosts from megacaps and chip stocks, including Nvidia as investors bet on artificial intelligence technology and eyed strong earnings data.
The S&P 500 finished little changed on Thursday after briefly topping the 5,000 milestone for the first time on record.
The broad-based index edged up 0.06% to finish at 4,997.91 after reaching a high of 5,000.40 heading into the close. The Dow Jones Industrial Average rose 48.97 points, or 0.13%, to end at 38,726.33, while the Nasdaq Composite gained 0.24% to close at 15,793.71.
Equities The S&P 500 rallied Wednesday closing at a record high and just shy of 5,000 level as bullish bets on stocks continued, with consumer stocks leading the charge following an earnings-led rally in Chipotle and Ford.