Nasdaq hits record high above 17,000 fueled by Nvidia's 7% surge and AI optimism

From Investing.com: 2024-05-28 16:08:13

The Nasdaq closed above 17,000 for the first time fueled by Nvidia’s 7% surge and AI optimism. Tech giant’s market value broke $2.5 trillion, solidifying its position as the third most valuable company on Wall Street. Tesla’s xAI raised $6 billion for AI development, confirming demand. Apple stock closes flat despite 52% rise in smartphone shipments in China. U.S. Cellular soars 12% on wireless business sale to T-Mobile; Draft Kings, Flutter slump. Gamestop jumps 25% after $933 million share offering. Treasury yields rise as consumer confidence unexpectedly jumps, PCE eyed for inflation data. Traders price out rate cut expectations in Treasury market ahead of PCE and GDP data.



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