S&P 500 and Nasdaq futures rose to new highs as Nvidia climbed in premarket trading. The stock gained 1.9%, lifting its valuation to about $5.9 trillion. Reuters, citing sources, reported the U.S. has cleared roughly 10 Chinese firms to buy Nvidia’s second-most powerful AI chip, the H200, fueling renewed market optimism.
US stocks closed mixed on May 12 as cooling tech momentum pulled the S&P 500 and Nasdaq lower, while the Dow edged higher. West Texas Intermediate crude jumped amid renewed US-Iran tensions, adding pressure to energy costs. Fresh data showed April CPI rising to its highest level since May 2023, keeping consumer inflation concerns front and center.
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US stocks opened lower on Tuesday as the S&P 500 and Nasdaq weighed a hotter-than-expected April inflation print and growing uncertainty over the Middle East conflict. Investors appeared to dial back expectations for a fast resolution even as they recalibrated interest-rate bets, pushing sentiment cautiously down at the start of the session.
US equity futures pointed to more gains as strong megacap tech earnings helped Wall Street hit record highs. The yen slid slightly after Japan intervened to support the currency, while Middle East tensions and oil price spikes failed to derail stocks. US markets logged their best April since 2020, fueled by an AI and tech resurgence.
The S&P 500 closed at a record high, accelerating a market rally powered by technology stocks. Investors remain upbeat as company earnings hold up and growth expectations stay firm, even as global tensions linger in the background. The index has surged by roughly $7.6 trillion since March, and optimism is growing that the uptrend can continue if earnings momentum persists.
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