Nasdaq Hits Record High, Boosted by Nvidia Rally
TL;DR Summary
The S&P 500, Dow Jones, and Nasdaq all closed lower on Wednesday, with the Dow dropping over 400 points. Despite Nvidia's recent surge, it wasn't enough to lift the overall market. Hedge funds are heavily invested in Big Tech, with Nvidia's performance being a significant factor. Bank of America remains optimistic about Insmed's lung disease treatment, while equity volatility is at low levels. ConocoPhillips announced a $17 billion acquisition of Marathon Oil, furthering industry consolidation. Dick's Sporting Goods and Abercrombie & Fitch reported strong earnings, boosting their stock prices.
- Stock futures are little changed after the Nasdaq Composite posts a record close: Live updates CNBC
- CNBC Daily Open: Nasdaq tops 17,000; Exxon faces shareholder revolt CNBC
- Stock Market Ends Mixed As 10-Year Yield Jumps; Nasdaq Hits All-Time High, Buoyed By Nvidia Investor's Business Daily
- Stock market today: Most of Wall Street slips in quiet trading after returning from a 3-day weekend The Associated Press
- The Nasdaq passes 17,000 as Nvidia stock rallies Quartz
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