The tech-heavy Nasdaq climbed to a record high on Monday, boosted by chipmakers, with highly awaited quarterly results from Nvidia and the Federal Reserve’s policy meeting minutes this week likely to test Wall Street’s record-breaking run.
Upbeat corporate earnings and softer-than-expected inflation data have supported hopes for interest rate cuts this year, helping the three major U.S. indexes mark their fourth straight week of gains on Friday.
The benchmark S&P 500 and the tech-heavy Nasdaq both touched all-time highs last week, with the blue-chip Dow closing above the 40,000 level on Friday.
Investors are awaiting quarterly results from Nvidia on Wednesday for evidence that the AI chip leader can maintain its explosive growth and stay ahead of rivals. Minutes of the Fed’s latest monetary policy meeting are also scheduled for the same day.
As the Nasdaq continues to climb, driven by the semiconductor boom, the focus remains on Nvidia and similar tech giants. These companies are at the forefront of innovation, leading the charge in areas such as artificial intelligence and data processing.
Consequently, their success fuels broader market optimism, encouraging investment across various tech sectors. In this evolving landscape, the Nasdaq record high serves as a barometer for technological progress and economic vitality, signaling a bright future for the industry.
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