Nvidia Surpasses Apple as It Hits $3 Trillion Valuation Amid S&P 500 Record High

#NvidiaSurge #SP500Record #AIChips

Summary

Stock futures remained stable overnight, with the S&P 500 futures barely moving, Nasdaq-100 futures inching up 0.05%, and Dow Jones Industrial Average futures dipping 10 points. This follows the S&P 500 setting a new record closing high of $5,354.03, driven by a robust rally in $NVIDIA, which surged more than 5% and surpassed a $3 trillion market valuation, surpassing $AAPL in value. Nvidia's next-generation AI chips, named 'Rubin,' were unveiled earlier in the week, contributing to its growth.

Perspective

The comments section is filled with excitement about Nvidia's surge and its potential to continue driving the market. Many investors are optimistic about the company's future, citing its consistent leadership and compelling narrative. Some are also discussing the implications of the upcoming nonfarm payrolls report for May and its potential impact on interest rates.

Data

1. Nvidia's market valuation surpassed $3 trillion, making it the largest publicly traded company in the world.
2. The S&P 500 set a new record closing high of $5,354.03, driven by the rally in Nvidia.
3. Private payrolls data from ADP revealed a deceleration in hiring, which could indicate a weakening labor market and potentially pave the way for interest rate cuts from the Federal Reserve.

Original Article: https://www.cnbc.com/2024/06/05/stock-market-today-live-updates.html