Nvidia's Strong Performance Sparks Nasdaq Surge While Dow Slips by 300 Points

Money | June 25, 2024, 4:04 p.m.

US stocks closed mixed on Tuesday, with the Nasdaq and S&P 500 breaking three-session losing streaks while the Dow Jones Industrial Average remained in the red. Tech-heavy Nasdaq surged 1.3% while S&P 500 rose 0.4%, boosted by Nvidia's 7% rebound from a recent dip. However, Dow slipped 0.8% following a strong start earlier in the week. Investors are cautiously eyeing inflation concerns and potential interest rate hikes, with Federal Reserve Governor Michelle Bowman signaling readiness to adjust rates if needed. Economic data showed record high home prices in April, but consumer confidence dipped slightly in June. As markets await Friday's update on the PCE index, uncertainty surrounds the impact of AI chipmaker Nvidia's performance on tech stocks and overall market momentum heading into the next quarter.