By Anders Bylund, The Motley Fool
Publication Date: 2026-06-01 17:58:00
At first glance, I expected the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) indexes to soar today. Nvidia (NASDAQ: NVDA) is up by 5.1% at 12:44 p.m. ET, and that kind of move is usually enough to drive substantial boosts to the cap-weighted indexes. After all, Nvidia accounts for 7.8% of the S&P 500’s total score and 11.2% of the Nasdaq Composite’s.
Instead, the gains are modest. The Nasdaq Composite is up just 0.2% and the S&P 500 has climbed 0.1%. The Dow Jones Industrial Average (DJINDICES: ^DJI) is down 0.4%, bowing under pressure from utilities and consumer goods.
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Two stories are fighting for control of the tape today, and neither is a clear winner.
AI optimism meets geopolitical reality
Over the weekend, Nvidia announced the rollout of Vera Rubin, the successor to its Blackwell architecture. CEO Jensen Huang took the stage at the Computex Taipei conference and declared that “useful AI has arrived.” The new platform is optimized for agentic AI workloads, where a single prompt can kick off autonomous reasoning, data retrieval, and real-world actions. Huang made it clear: this is the future, and Nvidia is building it.
The announcement sent several AI-linked…
