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Stock Market Today: Nasdaq Composite Rises As NVIDIA & AI Stocks Soar
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24/7 Wall St. just published an analysis on whether NVIDIA can hit $200 per share. With the stock leading the market higher today, it breaks down some of the recent catalysts driving the company’s stock price higher.
Shortly after 10 a.m. ET stocks continue to build on their early gains. Vistra Corp (NYSE: VST) is now up 5.5%, while NVIDIA is up 3.1%.
Amphenol, which is a key supplier for NVIDIA’s next-generation Blackwell systems is up 2.35%. The technology story of the year continues to center around NVIDIA as investors scramble to find plays that ride in the company’s wake as growth expectations for the next 12 months continue to soar.
At market open, key indexes are generally showing green. Shortly after 9:30 a.m. ET we have:
The S&P 500 is now back to record highs. The Dow Jones is under more pressure as Caterpillar (down 3.4%), Boeing (down 2.8%), and Amgen (down 1.6%) are all seeing declines today.
Among megacaps, NVIDIA (Nasdaq: NVDA) is up the highest amount shortly after the opening bell. The stock is up 2.56% to $138.24 per share in early trading. The company continues to see upgrades and positive research notes from Wall Street as it prepares to ship its next-generation Blackwell platform in volume in the coming months.
Among S&P 500 stocks, companies with AI exposure are leading today’s gains. Vistra (NYSE: VST), Applied Materials (Nasdaq: AMAT), and Lam Research (Nasadaq: LCRX) are the only S&P 500 stocks with larger gains than NVIDIA today and all three have significant tailwinds from the growth of AI.
With inflation data coming in slightly hotter than expected last week, attention will continue to focus on initial jobless claims numbers that will be released on Thursday. In addition, monthly U.S. retail sales data will be released on Thursday which should give an updated picture on consumer spending.
Earnings kick into high gear this week as many of the largest companies begin reporting third-quarter earnings. Here are some of the key earnings to watch this week.
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