S&P 500 Takes a Record Close ahead of NVIDIA Earnings – US Market Wrap

Stocks rose to a new high ahead of results from Nvidia Corp., the massive chipmaker at the centre of the artificial-intelligence revolution that has propelled the bull market.

The bar is high for the company, whose stock has risen more than 90% this year after more than tripling in 2023. Investors all over the world are waiting to see if the poster child of artificial intelligence can live up to the technology’s lofty expectations. Nvidia’s revenue is expected to be boosted by strong demand in its data centre business.

Traders also kept a close eye on a few Federal Reserve speakers, including Governor Waller, who stated that if data continues to soften over the next three to five months, the Fed will consider cutting interest rates at the end of 2024.