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Time of India
16-07-2025
- Business
- Time of India
Nasdaq ends at another record high on Nvidia's China chip cheer
The Nasdaq Composite posted its latest record finish on Tuesday, supported by a jump in shares of heavyweight Nvidia , but the other Wall Street benchmarks dropped as a key inflation report and a flurry of bank earnings failed to excite investors. It was the fourth session in five that the technology-heavy Nasdaq index has posted a record close, and the eighth time since June 27. Artificial-intelligence chip leader Nvidia was the primary factor behind the Nasdaq's increase, gaining 4% after it unveiled plans to resume sales of its H20 AI chip to China. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Gold Is Surging in 2025 — Smart Traders Are Already In IC Markets Learn More Undo The news buoyed other chipmakers, with Advanced Micro Devices and Super Micro Computer both gaining more than 6.4%. The semiconductor index also advanced 1.3% to its highest point in a year, while the S&P technology index climbed by the same percentage to hit a record high. Rob Swanke, senior investment research analyst at Commonwealth Financial Network, said the Nvidia news meant that some investors, who had moved into other stocks due to technology's high valuations, were rotating back. Live Events "I would probably say it's a one-day pop," he added, noting that investors would be waiting for sales to be reflected in its earnings. The Nasdaq Composite gained 37.47 points, or 0.18%, to finish at 20,677.80. The Dow Jones Industrial Average fell 436.36 points, or 0.98%, to 44,023.29, and the S&P 500 lost 24.80 points, or 0.40%, to 6,243.76. Markets have been buoyant in recent weeks. Investor concerns that the U.S. economy would be tarnished by President Donald Trump's policies, including major tariff announcements, have started to abate, allowing Wall Street to move higher. This week was expected to be a significant test of that improving sentiment, with the start of second-quarter earnings season and inflation reports that were forecast to reflect sellers starting to pass on higher tariff-related costs . The first of these reports showed U.S. consumer prices posted their biggest jump in five months in June, hinting that tariffs may be starting to heat up inflation. Still, underlying inflation stayed moderate, offering some reassurance despite the headline spike. "The picture from inflation this morning, coming in a little bit higher than expected but pretty much in line, gives you some sense that the tariffs are starting to flow through into the economy," said Commonwealth's Swanke. "We'll get more concrete news, as we go through earnings, to see how companies are delivering the impact of higher tariffs." On the first day of second-quarter earnings season, banking stocks whipsawed in volatile trade. JPMorgan Chase slipped 0.7% despite raising its 2025 net interest income outlook, while Wells Fargo fell 5.5% even as its profit rose on reduced loan-loss reserves. BlackRock notched a new milestone for assets under management, yet its shares slid 5.9%. Bucking the trend, Citigroup climbed 3.7% to its highest finish since the global financial crisis, after its traders delivered a windfall that boosted second-quarter profit. The number of shares changing hands on U.S. exchanges on Tuesday was 16.82 billion, compared with the 17.55 billion average for the last 20 trading days.
The Star
15-07-2025
- Business
- The Star
Nasdaq ends at another record high on Nvidia's China chip cheer
The Nasdaq gained 37.47 points, or 0.18%, to finish at 20,677.80. The Dow fell 436.36 points, or 0.98%, to 44,023.29, and the S&P 500 lost 24.80 points, or 0.40%, to 6,243.76. NEW YORK: The Nasdaq Composite posted its latest record finish on Tuesday, supported by a jump in shares of heavyweight Nvidia, but the other Wall Street benchmarks dropped as a key inflation report and a flurry of bank earnings failed to excite investors. It was the fourth session in five that the technology-heavy Nasdaq index has posted a record close, and the eighth time since June 27. Artificial-intelligence chip leader Nvidia was the primary factor behind the Nasdaq's increase, gaining 4% after it unveiled plans to resume sales of its H20 AI chip to China. The news buoyed other chipmakers, with Advanced Micro Devices and Super Micro Computer both gaining more than 6.4%. The semiconductor index also advanced 1.3% to its highest point in a year, while the S&P technology index climbed by the same percentage to hit a record high. Rob Swanke, senior investment research analyst at Commonwealth Financial Network, said the Nvidia news meant that some investors, who had moved into other stocks due to technology's high valuations, were rotating back. "I would probably say it's a one-day pop," he added, noting that investors would be waiting for sales to be reflected in its earnings. The Nasdaq Composite gained 37.47 points, or 0.18%, to finish at 20,677.80. The Dow Jones Industrial Average fell 436.36 points, or 0.98%, to 44,023.29, and the S&P 500 lost 24.80 points, or 0.40%, to 6,243.76. Markets have been buoyant in recent weeks. Investor concerns that the US economy would be tarnished by President Donald Trump's policies, including major tariff announcements, have started to abate, allowing Wall Street to move higher. This week was expected to be a significant test of that improving sentiment, with the start of second-quarter earnings season and inflation reports that were forecast to reflect sellers starting to pass on higher tariff-related costs. The first of these reports showed US consumer prices posted their biggest jump in five months in June, hinting that tariffs may be starting to heat up inflation. Still, underlying inflation stayed moderate, offering some reassurance despite the headline spike. "The picture from inflation this morning, coming in a little bit higher than expected but pretty much in line, gives you some sense that the tariffs are starting to flow through into the economy," said Commonwealth's Swanke. "We'll get more concrete news, as we go through earnings, to see how companies are delivering the impact of higher tariffs." On the first day of second-quarter earnings season, banking stocks whipsawed in volatile trade. JPMorgan Chase slipped 0.7% despite raising its 2025 net interest income outlook, while Wells Fargo fell 5.5% even as its profit rose on reduced loan-loss reserves. BlackRock notched a new milestone for assets under management, yet its shares slid 5.9%. Bucking the trend, Citigroup climbed 3.7% to its highest finish since the global financial crisis, after its traders delivered a windfall that boosted second-quarter profit. The number of shares changing hands on US exchanges on Tuesday was 16.82 billion, compared with the 17.55 billion average for the last 20 trading days. — Reuters
CNA
15-07-2025
- Business
- CNA
Nasdaq posts latest record close on Nvidia's China chip cheer
NEW YORK: The Nasdaq Composite posted a fresh record close on Tuesday (Jul 15), lifted by a surge in shares of Nvidia, even as the S&P 500 and Dow Jones slipped amid lukewarm inflation data and mixed bank earnings. It was the tech-heavy index's fourth record close in five sessions, and its eighth since Jun 27. Artificial-intelligence chip leader Nvidia gained 4 per cent after it unveiled plans to resume sales of its H20 AI chips to China. The news buoyed other chipmakers, with Advanced Micro Devices and Super Micro Computer both gaining more than 6.4 per cent. The semiconductor index also advanced 1.3 per cent to its highest point in a year, while the S&P technology index climbed by the same percentage to hit a record high. "The Nvidia news meant that some investors, who had moved into other stocks due to high tech valuations, were rotating back," said Rob Swanke, senior investment research analyst at Commonwealth Financial Network. "I would probably say it's a one-day pop," he added, noting that investors would look to see the sales reflected in upcoming earnings. The Nasdaq Composite added 37.47 points or 0.18 per cent to end at 20,677.80. The Dow Jones Industrial Average dropped 436.36 points or 0.98 per cent to 44,023.29, and the S&P 500 lost 24.80 points or 0.40 per cent to 6,243.76. INFLATION PICKS UP, BUT CORE STAYS MODERATE Markets have been buoyant in recent weeks as concerns over the economic impact of President Donald Trump's trade policies eased. However, this week is seen as a key test, with second-quarter earnings and inflation data in focus. US consumer prices posted their largest gain in five months in June, suggesting tariffs may be contributing to rising costs. Still, underlying inflation remained moderate, offering investors some relief. "The picture from inflation this morning, coming in a little bit higher than expected but pretty much in line, gives you some sense that the tariffs are starting to flow through into the economy," said Commonwealth's Swanke. "We'll get more concrete news, as we go through earnings, to see how companies are delivering the impact of higher tariffs." BANK EARNINGS MIXED The second-quarter earnings season opened on a muted note. JPMorgan Chase slipped 0.7 per cent despite raising its 2025 net interest income outlook, while Wells Fargo fell 5.5 per cent even as its profit improved due to reduced loan-loss reserves. BlackRock reported a new milestone in assets under management, but its shares slid 5.9 per cent. Citigroup bucked the trend, climbing 3.7 per cent to its highest finish since the global financial crisis, after its trading division delivered a strong performance that lifted second-quarter profits. The number of shares changing hands on US exchanges on Tuesday was 16.82 billion, compared with the 17.55 billion average for the last 20 trading days.
