"Nvidia Surpasses Amazon in Market Value as Nasdaq Nears All-Time High"

U.S. stocks, including the Nasdaq, climbed as investors awaited crucial inflation reports, with Nvidia surpassing Amazon in market value for the first time in two decades. The S&P 500 and Dow also reached record highs, driven by megacaps with exposure to artificial intelligence and optimism about rate cuts. Traders are monitoring upcoming inflation data to gauge the potential for monetary policy easing, while Federal Reserve officials' remarks will be scrutinized for hints on rate cut timing. Diamondback Energy's $26 billion deal and Joby Aviation's air taxi launch agreement also contributed to market movements.