Nasdaq surges as market weighs GDP print, Nvidia earnings
Published On Aug 29, 2024, 10:09 AM
The Dow Jones Industrial Average reached a record high, gaining over 200 points, while other indices like the Nasdaq and S&P 500 finished lower. Investors are reacting to Nvidia's disappointing earnings, despite the company posting profits that exceeded expectations but falling short of high forecasted growth. Meanwhile, Salesforce shares surged after strong earnings, and Best Buy's stock rose 17% following their positive performance. However, Dollar General shares plummeted over 30% after the company cut its outlook due to weaker customer spending. Additionally, the US economy's GDP growth outpaced predictions, raising questions about interest rate adjustments by the Federal Reserve.