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Nasdaq Soars 255 Points as Nvidia Hits Record High; Wall Street Shrugs Off Shutdown
The Nasdaq surged 255 points, driven by Nvidias 2.2% increase fueled by strong demand for Artificial intelligence, as Wall Street largely ignored the looming U.S. government shutdown.
- Nvidias stock rose by 2.2%, reaching a record high on the back of increasing demand for Artificial intelligence technologies, significantly boosting investor confidence.
- The Nasdaq climbed 1.1%, adding 255.02 points, while the S&P 500 Index gained 0.6%, reflecting strong performance in the tech sector despite mixed signals from the Federal Reserve.
- Investors shrugged off concerns about a potential U.S. government shutdown and divergent messages from the Federal Reserve, leading to gains in gold and hardware stocks.
Why It Matters
This surge in tech stocks, particularly driven by Nvidia and the appetite for Artificial intelligence, indicates a resilient market amidst political uncertainties. It also highlights the growing influence of tech on overall market performance and investor sentiment.