From Nasdaq: 2024-06-20 09:39:00

U.S. stocks closed higher on Tuesday, with the S&P 500 and Nasdaq hitting new record highs, driven by NVIDIA’s surge. The Dow Jones gained 0.2% to close at 38,834.86 points while the S&P 500 climbed 0.3% to 5,487.03 points. The Nasdaq rose slightly to finish at 17,862.23 points. Financial and real estate sectors led gains.

Retail sales data for May showed a modest 0.1% increase, below the expected 0.3%. Despite this, the S&P 500 and Nasdaq continued to rise, fueled by NVIDIA’s stock surge, making it the most valuable publicly traded U.S. company. NVIDIA’s shares jumped 3.5% on Tuesday, driving semiconductor stocks higher.

Industrial production beat expectations, rising 0.9% in May, the largest gain in 10 months. Capacity utilization also increased to 78.7% from 78.2%. Demand for clean hydrogen energy is on the rise, with projections reaching $500 billion by 2030. Zacks Investment Research offers a special report on three industrial giants poised to benefit from this trend.



Read more at Nasdaq: Stock Market News for Jun 20, 2024