Wall St opens higher as Nvidia gains; US-China talks, data in focus
Nvidia climbed 3.0% as investors weighed U.S.-China trade progress and stronger tech earnings.
- The Nasdaq hit a fresh intraday record high yesterday, boosted by gains in chip giant Nvidia, which rose 3 per cent to a market valuation of about US$5.6 trillion.
- Chinese President Jinping and President Donald Trump met for a two-day summit on Thursday to discuss trade. While talks showed progress, both leaders warned that tensions over Taiwan could put relations on a dangerous path.
- Reuters reported that the U.S. cleared about 10 Chinese firms to buy the H200 AI chip. Separately, Cisco soared 14.7 per cent to an all-time high after announcing plans to cut nearly 4000 jobs as part of restructuring.
- "Today's retail numbers don't ring any alarm bells at the Fed, so they keep an upward bias on interest rates," said David Russell, Global Head of Market Strategy at TradeStation. The consumer remains strong enough to rule out rate cuts.
- Traders are pricing in more than a 28 per cent chance of a rate hike by year-end, as concerns remain about higher inflation and the Middle East conflict despite a stable labor market.
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11 Articles
Nvidia Boosts Wall Street as Indices Open Higher Amidst U.S.-China Summit
Wall Street saw an upswing as stock indexes opened higher, driven by a rise in Nvidia shares. Traders are keeping an eye on economic data and developments from the U.S.-China summit. The Dow Jones increased by 150.4 points, while the S&P 500 and Nasdaq also noted slight gains.
New York stock market opens higher on U.S.-China summit; Nvidia rises 4% as exports to China open. The three major U.S. stock indices opened higher across the board on the 14th (local time). Investors are focusing on the U.S.-China summit. The Dow Jones 30 Industrial Average is recording 49,983.86, up 0.58% from the previous close.
US stocks today: US stocks extend rally as Nvidia gains; US-China talks, data in focus
Wall Street hit fresh intraday highs led by Nvidias AI-driven surge and Ciscos upbeat outlook. Strong retail sales and stable jobless claims signalled economic resilience, though inflation risks from rising oil prices persist. Investors tracked U.S.-China talks while expectations of prolonged tight Fed policy continued to shape market sentiment.
Wall St opens higher as Nvidia gains; US-China talks, data in focus
May 14 (Reuters) – Wall Street stock indexes opened higher on Thursday as Nvidia’s shares jumped, while investors assessed economic data and watched developments around the high-stakes U.S.-China summit. The Dow Jones Industrial Average rose 150.4 points, or 0.30%, at the open to 49,843.58. The S&P 500 rose 10.1 points, or 0.14%, at the open to 7,454.4, while the Nasdaq Composite rose 23.1 points, or 0.09%, to 26,425.468 at t…
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