Stock market today: Dow, S&P 500 head for record high, Nasdaq jumps as Nvidia surges
Published On Oct 14, 2024, 10:39 AM
US stock markets are trending towards record highs, driven mainly by a significant increase in Nvidia shares. The S&P 500 has risen by 0.7% and the Nasdaq climbed 0.8%, while the Dow Jones increased by 0.3%. Investor optimism is bolstered by strong performance from major tech companies, particularly in the semiconductor sector, as big banks prepare to release their earnings for the third quarter. The market anticipates these earnings will support the ongoing rally, even amidst worries regarding potential Federal Reserve interest rate cuts. Meanwhile, Boeing's stock dropped nearly 3% due to ongoing challenges, including a large number of job cuts and strikes affecting production.