Nvidia surpasses Microsoft as Wall Street's top company, driving market records

From Fortune: 2024-06-18 16:54:00

Nvidia becomes Wall Street’s most valuable company, stock markets hit records. S&P 500 rises 0.3%, Nasdaq sets record, Dow Jones adds 0.1%. Nvidia stock up 3.5%, market value above $3 trillion. Big Tech giants Microsoft and Apple trade crown. Nvidia’s AI chips driving profit growth, stock up 174% this year.

Treasury yields eases after retail sales growth but below expectations. Federal Reserve aims to balance economy with high interest rates. Traders bet on rate cuts, yields fall. Global fund managers optimistic on stocks. Weak retail data hints at struggling consumer spending, downward revisions.

Lennar falls on consumer sentiment woes, Fisker filing for bankruptcy protection, La-Z-Boy jumps on strong quarterly report. Boston Scientific buys Silk Road Medical, S&P 500 rises. European markets recover, France’s CAC 40 up 0.8%. Japan’s Nikkei 225 climbs, Toyota share proposal rejected. Sign up for Fortune’s Next to Lead newsletter for leadership strategies launching June 24.



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