US EditionThe Dow rallies 500 points toward a record even as Nvidia sags
The Dow surged 539 points driven by earnings optimism and Fed rate cut bets while Nvidia dropped 2.7% on AI stock overvaluation and SoftBank's $5.83 billion stake sale.
- On Tuesday, the Dow Jones Industrial Average rallied 539 points, or 1.1%, and was on track to surpass its record set two weeks ago as most of Wall Street rebounded.
- Amid the AI focus, traders are pricing roughly a two-in-three chance of a Federal Reserve rate cut in December, with Nvidia and other AI winners in the spotlight, analysts say.
- Helping to lead the market was Paramount Skydance, which climbed 9.4% after its first earnings since the Skydance acquisition and raised its cost-cutting target to at least $3 billion.
- Because Nvidia is so large, it was the heaviest weight on the S&P 500 and its decline checked gains elsewhere in the market, after SoftBank said it sold its entire stake for $5.83 billion.
- On the volatile side, CoreWeave fell 14.8% despite topping revenue forecasts, while the S&P 500 added 0.2% after erasing earlier losses amid mixed breadth.
17 Articles
17 Articles
Corsicana Daily Sun
Wall Street's broad gains are kept in check by the heavy weight of a sinking Nvidia
Most of Wall Street is rising, but another return toward Earth for Nvidia is weighing on the U.S. stock market. The S&P 500 edged just 0.2% higher Tuesday, even though the majority of stocks within the index climbed. It’s a…
Hartford Courant
The Dow rallies 500 points toward a record even as Nvidia sags
Most of Wall Street is rising, but another return toward Earth for Nvidia is keeping the U.S. stock market down.
Daily Local News
The Delaware County Daily TimesWall Street’s broad gains are kept in check by the heavy weight of a sinking Nvidia
By STAN CHOE, AP Business Writer NEW YORK (AP) — Most of Wall Street is rising on Tuesday, but another return toward Earth for Nvidia is keeping the U.S. stock market in check. The S&P 500 edged just 0.2% higher, despite gains for the majority of stocks within the index. It’s a slowdown for the market, coming off Monday’s vigorous rebound following its first losing week in four. The Dow Jones Industrial Average was up 483 points, or 1%, as of 2:…
Wall Street opened Tuesday’s day with a negative tone, dragged by sales in the technology sector, after it became known that SoftBank Group took off its entire stake in Nvidia and CoreWeave warned that its revenues would be lower than expected. See more: The six investor lessons left by Warren Buffett’s letterThe S&P 500 yielded -0.18%, while the Nasdaq retreated -0.50%, a turn of caution after the strongest rebound in almost six months that the…
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