NVIDIA Anticipation – US Market Wrap

The stock market hovered near all-time highs just a few days ahead of results from NVIDIA, the last of the so-called Magnificent Seven companies to report.

The S&P 500 closed above 5,300. NVIDIA surged on a bullish analyst call. Ether led a rally in digital assets, fueled by expectations that opposition to an exchange-traded fund tracking the second-largest cryptocurrency is lessening. JPMorgan shares fell as Jamie Dimon indicated the bank will not buy back much stock at “these prices.”

Another slue of Federal Reserve speakers only reiterated the wait- and-see approach on rates. Treasuries edged lower at the start of a busy week for investment-grade issuance as firms rush to sell bonds ahead of the US holiday weekend. Ten-year yields rose two basis points to 4.44%.