From Yahoo:

Equity markets worldwide set new records driven by Nvidia’s impressive results and excitement over artificial intelligence, with Asia, Europe, and North America all reaching new highs. The surge was fueled by strong performances in major tech stocks and optimism about AI’s potential impact on the market. Additionally, oil prices dropped due to demand concerns following Federal Reserve comments on interest rates, while natural gas prices in Europe hit a nearly three-year low due to mild weather and healthy stockpiles.

“The focus of financial markets recently has been Nvidia’s earnings report and its positive outlook on AI,” commented XTB analyst Kathleen Brooks, noting the company’s $277 billion jump in market cap in a single day. The rise in Nvidia’s stock value spurred record highs in Tokyo and Wall Street, with the Dow hitting above 39,000 points. The emergence of AI as a significant investment opportunity has helped sustain market growth amidst tight monetary policies worldwide.

Nvidia’s market value climbed to nearly $2 trillion on Friday, as its shares rose over three percent at the opening bell, following a 16.4 percent jump the previous day. Despite this, other tech giants like Meta and Microsoft, key customers of Nvidia, saw fluctuations in their stock prices. Investors are also evaluating the future of US interest rates after indications of potential rate cuts later in the year from Fed officials.

Cont…

Leading market figures at around 2145 GMT showed the Dow up 0.2 percent, S&P 500 slightly higher, and Nasdaq Composite down 0.3 percent. In Europe, London’s FTSE 100 closed up 0.3 percent, Frankfurt’s DAX was up 0.3 percent, and Paris’ CAC 40 rose by 0.7 percent. In Asia, Tokyo’s Nikkei 225 was closed for a holiday, while Hong Kong’s Hang Seng Index was down 0.1 percent, and Shanghai’s Composite rose by 0.6 percent. Oil prices fell, with West Texas Intermediate down 2.7 percent at $76.49 per barrel and Brent North Sea Crude down 2.5 percent at $81.62 per barrel. Currencies were relatively stable with minor fluctuations.



Read more at Yahoo: Dow and S&P 500 eke out fresh records as stocks rally loses steam