Reported 6 months ago
The S&P 500 and Nasdaq Composite closed at record highs as Nvidia led a Big Tech surge, with the S&P 500 rising around 1.2% to 5,354 and the Nasdaq Composite surging nearly 2% to a record close of 17,187. Nvidia's market cap crossed $3 trillion for the first time, surpassing Apple to become the US stock market's second most valuable company. This rally coincided with a decrease in Treasury yields and growing hopes for Fed interest rate cuts as signs of cooling labor demand and economic slowdown emerge.
Source: YAHOO