From Nasdaq:

Wall Street’s major indexes closed higher on Tuesday after Nvidia’s shares recovered and investors awaited the Federal Reserve’s policy meeting on Wednesday. Nvidia unveiled plans for its Blackwell B200 AI chip, boosting its stock by 1%. The Dow rose by 0.83%, the S&P 500 by 0.56%, and the Nasdaq by 0.39%.

Improving sentiment fueled Tuesday’s gains, attributed to Nvidia’s turnaround and bullishness about the economy. The overall bullish theme since the year started led to money flowing into the market beyond just technology. Dow outpaced with 2% gains in Home Depot, over 1% in McDonald’s and Apple. Energy sector rose 1.1% as oil prices increased.

Investors prepared for the Fed’s policy update, as they anticipated Chair Jerome Powell’s press conference. Inflation data reduced bets for a rate cut in June from 69% to 59%. Goldman expects Powell to emphasize caution about inflation and focus policy on economic data. The central bank is expected to update its inflation and growth projections.

Coinbase fell almost 4%, along with miner Riot Platforms dropping 3% and a 5% slide in bitcoin. MicroStrategy shares fell 5.7% due to completion of a $603.75 million convertible debt offering to fund bitcoin purchases. Super Micro Computer shares fell 9% after announcing plans to sell 2 million shares potentially worth $2 billion.

Spire Global shares soared by 30.4% following a collaboration with Nvidia for AI-driven weather prediction. The NYSE saw 286 new highs and 53 new lows, while the Nasdaq recorded 98 new highs and 126 new lows. The S&P 500 posted 49 new 52-week highs and one new low. Exchange volumes totaled 10.74 billion shares.



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