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Nvidia and Other Tech Companies Prop up Wall Street as Most Stocks Fall
The Magnificent Seven tech stocks make up about one-third of the S&P 500 value and are driving gains despite 80% of other stocks falling, fueled by strong AI demand and earnings.
- On Monday, the Magnificent Seven—Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla—propped up Wall Street as the S&P 500 held near its all-time high despite four out of five stocks falling.
- With reporting season two-thirds complete, S&P 500 companies are on track for nearly 11% growth as Nvidia and peers soar amid AI industry frenzy, FactSet reports.
- Some individual stocks moved sharply in both directions: Microsoft added 0.7% after a $9.7 billion contract with AI cloud service provider IREN, Kenvue climbed 7.4% on Kimberly‑Clark's $48.7 billion deal, while Beyond Meat fell 13% after last month's nearly 600% surge.
- Indexes showed a mixed picture as the Dow Jones Industrial Average fell 186 points while the Nasdaq composite rose 0.5%; SK Hynix surged nearly 11% and South Korea's Kospi jumped 2.8%.
- Economic indicators point to added uncertainty for the market as critics warn broad U.S. market and AI gains may form a bubble, while U.S. manufacturing shrank more than expected last month amid tariff concerns.
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Nvidia and tech companies prop up Wall Street as most stocks fall
The U.S. stock market is ticking higher in mixed trading, led once again by big tech companies. The S&P 500 added 0.4% Monday and was nearing its all-time high set last week, even though the majority of stocks within the index were falling.
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Wall Street’s AI Obsession Makes Perfect Sense
Change is afoot. Technology companies, long the heavyweights of the markets, are now entirely taking over. Last week, Nvidia became a $5 trillion company—roughly 17 percent of the gross domestic product of the United States, or about twice the GDP of Canada. Microsoft is now a $4 trillion company, and Alphabet $3 trillion.One need only look at what happened in the markets last week to witness the influence of these companies. Last Tuesday, the S…
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Total News Sources41
Leaning Left10Leaning Right4Center19Last UpdatedBias Distribution58% Center
Bias Distribution
- 58% of the sources are Center
58% Center
L 30%
C 58%
12%
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