Stock market today: Dow, S&P 500 clinch fresh highs as Nvidia surges to record

Published On Oct 14, 2024, 4:06 PM

On October 14, 2024, major U.S. stock indexes reached record highs, led by a significant surge in Nvidia's stock, which rose nearly 3% to surpass $138 per share. The S&P 500 closed at a new record, fueled by optimism surrounding earnings reports from major banks, including JPMorgan and Wells Fargo. The broader rally also extended to other tech and semiconductor companies. Meanwhile, cryptocurrencies like Bitcoin and Ethereum saw notable gains. Investors are closely watching upcoming earnings reports and economic indicators related to Federal Reserve interest rate policies, as these factors will influence market trends moving forward.

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Stock Forecasts

NVDAView NVDA chart on TradingView

Positive

Nvidia continues to showcase strong demand for its technology, particularly in AI and semiconductors, driven by partnerships with companies like OpenAI. Given its market leadership and record stock performance, Nvidia's growth potential appears robust in the near term.

SMHView SMH chart on TradingView

Positive

As the market responds positively to earnings and tech sector gains, ETFs focused on technology and semiconductors are likely to benefit, reflecting a favorable investment environment.

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