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Nvidia and other Big Tech stocks lift Wall Street and make up for a drop by Apple
Nvidia led the market with a 1.8% gain while Apple fell 1.6% as investors weighed stronger chip demand and higher AI spending.
- On Tuesday, a rebound for influential AI-related stocks lifted the U.S. market, with Nvidia rising 2.9% while Apple fell 2.7% despite reporting stronger profit and revenue.
- Rising demand for AI data centers has made memory chips more expensive, forcing Apple to expect lower profit from each $1 of revenue during the final three months of this year.
- The S&P 500 rose 0.6% on Tuesday, supported by gains of 5.5% for Advanced Micro Devices, 3.8% for Broadcom, and 3% for Micron Technology.
- Revvity jumped 12% after topping analyst expectations, while the 10-year Treasury yield climbed to 4.93% from 4.91% late Monday.
- According to Edward Jones analyst Brock Weimer, the S&P 500 has historically posted positive returns in the six months following every midterm election since 1970.
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11 Articles
11 Articles
Nvidia, Big Tech Stocks Lift Wall Street Despite Apple Slump
The S&P 500 rose 0.6%, even though more stocks fell within the index than rose. The Dow Jones Industrial Average was down 87 points, or 0.2%, as of 11 a.m. Eastern time, and the Nasdaq composite was 1.1% higher.
·Hyderabad, India
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Coverage Details
Total News Sources11
Leaning Left6Leaning Right3Center2Last UpdatedBias Distribution55% Left
Bias Distribution
- 55% of the sources lean Left
55% Left
L 55%
C 18%
R 27%
Factuality
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