The Nasdaq high-tech index closed at a brand new file excessive, led by beneficial properties in Nvidia and different tech shares. The S&P 500 ended with a marginal enhance of 0.1%. Conversely, the Dow Jones slid into adverse territory with losses led by JPMorgan Chase.

THE Nasdaq strengthened by 0.65% reaching an intra-session file and likewise closing at a file excessive of 16,794.87 factors. THE S&P 500 closed at 5,308.13 factors with a marginal enhance of 0.09%. THE Dow fell 196.82 factors or 0.49% to 39,806.77 factors.

JPMorgan shares fell 4.5% after Chief Govt Jamie Dimon signaled throughout the financial institution’s annual investor assembly that his retirement could come before first reported. Dimon additionally mentioned the financial institution wouldn’t be shopping for again fairness at present ranges. Its inventory is up 15% year-to-date.

The large names in synthetic intelligence are anticipated to steal the present this week. Traders await Nvidia’s first-quarter outcomes on Wednesday night time, which shall be a barometer of the momentum of the AI-led rally.

Shares of Nvidia rose greater than 2% as a number of Wall Avenue corporations raised their worth targets for the chipmaker forward of its quarterly outcomes, suggesting the inventory might rally one other 30% from at this time’s ranges.

The inventory is up about 92% this yr, with a 203.9% achieve over the previous 12 months.

Nvidia’s market cap is presently the third largest within the S&P 500 at $2.3 trillion.

The S&P 500 has hit consecutive all-time highs in 2024 as Wall Avenue has added $12 trillion in worth since late October. Partly that is because of the mushy touchdown of the US financial system and partially to enthusiasm for synthetic intelligence. In whole, Microsoft, Amazon.com, Meta Platforms and Alphabet signify 53% of the index’s achieve, which means that the achieve got here from simply 5 shares.

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