Nvidia's tech rally lifted S&P 500 near all-time highs, with promising developments in various sectors.

From Yahoo Finance.: 2024-08-20 12:39:45

The S&P 500 is nearing all-time highs, lifted by a tech rally led by Nvidia. The “Magnificent Seven” tech stocks have added $1.4 trillion in market cap since August 5. The Nasdaq Composite emerged from a short 11-day correction. Investors are closely watching Nvidia’s upcoming earnings report on August 28. There have been promising developments in sectors like Utilities, Consumer Staples, and Health Care, indicating a broadening rally. Economic data shows a slowing, but still growing US economy, with expectations of a Fed interest rate cutting cycle.



Read more at Yahoo Finance.: Nvidia helped the stock market storm back, but this summer’s broadening theme never went away