Nvidia Rally Boosts S&P 500 and Nasdaq in CNBC Daily Market Update
Money | June 25, 2024, 8:43 p.m.
In today's market report from CNBC Daily Open, Nvidia led a rally in the S&P 500 and the Nasdaq Composite after rebounding from a sell-off. Despite this, the Dow Jones Industrial Average saw a drop due to declines from Boeing, Goldman Sachs, and Home Depot. Volkswagen's investment of up to $5 billion in electric vehicle startup Rivian caused its shares to soar 40% in after-hours trading. Sixteen Nobel Prize-winning economists issued a warning about potential economic risks if former President Donald Trump were to serve a second term, including a possible resurgence of inflation. Federal Reserve Governor Michelle Bowman indicated a willingness to increase interest rates if inflation worsens. The EU charged Microsoft with violating antitrust rules through bundling practices. Despite Nvidia's impressive performance, the "Dogs of the Dow" dividend-focused strategy continues to outperform the market.