US Stocks Higher, Nvidia Extends Gains
US stocks were higher on Wednesday, with both the S&P 500 and the Dow Jones rising 0.2% while the Nasdaq added 0.6%. The gaisn come after the S&P 500 turned positive for the year the day before, although momentum from the recent rally, driven by US-China tariff reductions, appeared to be waning. Investors were also closely watching President Trump’s visit to the Middle East, which has drawn attention from markets.
The tech sector was by far the top performer while real estate and utilities underperformed. Nvidia shares jumped over 3%, building on a 5.6% gain from the previous session as the company will supply more than 18,000 AI chips to Saudi Arabia. Meanwhile, Super Micro Computer soared 17% after entering a $20 billion partnership with DataVolt, a Saudi-based data center operator. Among megacaps, Apple and Amazon traded around the flatline while Microsoft (0.4%), Meta (0.8%), Alphabet (+0.6%), and Tesla (+2.7%) traded higher.
Source: Trading Economics