Nvidia made history on Tuesday by becoming the most valuable company on Wall Street. The S&P 500 and Nasdaq continued to set records as the U.S. economy showed signs of slowing growth. Nvidia’s success is driven by its role in the artificial intelligence boom, with demand for its chips rising exponentially. The Federal Reserve is closely monitoring the economy, with expectations of rate cuts in response to lower-than-expected retail sales.
Global fund managers are increasingly optimistic about the stock market, despite concerns about household spending and inflation. Some companies, such as homebuilder Lennar and electric vehicle maker Fisker, faced challenges due to market conditions. On the other hand, La-Z-Boy and Silk Road Medical reported strong earnings and saw their stocks rise.
In Europe, stock markets rebounded after concerns over far-right party victories in elections. In Asia, Japan’s Nikkei 225 rose, with Toyota Motor getting a boost from shareholders rejecting a proposal for leadership changes.
Overall, the stock market is showing resilience despite ongoing economic challenges and uncertainties. Investors are cautiously optimistic about the future, with continued focus on Federal Reserve decisions and global market trends.
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https://www.latimes.com/business/story/2024-06-18/stock-market-today-nvidia-climbs-to-wall-streets-mountaintop-as-indexes-edge-up-to-more-records