Stock Market Today: NASDAQ Rises to New Record
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Investor's Business Daily on MSNStock Market Today: Nasdaq Cools Off As Astera Labs Reverses, CoreWeave Breaks This Key Chart Level (Live Coverage)After the opening bell, the Dow Jones Industrial Average dropped 0.2%. But the blue chip index erased those thin losses to gain 0.2% in recent trades. The S&P 500 remained fractionally lower; the tech-heavy Nasdaq composite traded down 0.5% and is threatening to halt a three-week winning streak.
Nvidia’s climb also made the chip maker briefly the world’s first company with a market value of $4 trillion. Wednesday’s milestone came barely two years after the Santa Clara, Calif.-based company, led by Chief Executive Jensen Huang, notched a $1 trillion closing valuation for the first time.
Live Updates Live Coverage Updates appear automatically as they are published. Coinbase Deal 10:12 am by Gerelyn Terzo Digital asset exchange Coinbase (Nasdaq: COIN) has partnered with AI giant Perplexity AI in a deal that is reportedly designed to “to help traders get access to real-time trusted crypto data/info for better decision making.
Nvidia (NASDAQ: NVDA) stock currently trades for around $155. However, Loop Capital just gave Nvidia a new price target of $250 per share. That indicates around 60% upside from today's price, but the implications of a $250-per-share stock are far greater.
Nvidia (NASDAQ: NVDA) shares climbed 1.1% to close at $160 today, bucking the cautious sentiment that weighed on major indices. The technology-heavy Nasdaq Composite gained just 0.03% and growth-focused S&P 500 retreated 0.07% amid concerns about tariffs, lingering inflation worries, and mixed economic signals.
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Investor's Business Daily on MSNDow Jones Futures: Nvidia Chipmaker Due; AI Plays Rubrik, Astera Labs Flash Buy SignalsDow Jones futures edged lower overnight, along with S&P 500 futures and Nasdaq futures. Nvidia chipmaker Taiwan Semiconductor ManufacturingTSM and Delta Air LinesDAL report key Q2 figures early Thursday.
Even with growth going strong and the future looking bright, investors might wonder if buying Nvidia now, at a new high, is a good idea. The stock trades for 35 times forward earnings estimates, higher than a few weeks ago, but lower than a peak of more than 50 just a few months ago.
To me, Nvidia may have put AMD in a checkmate position for the time being. I think these figures reported could imply that Nvidia will remain the leader in AI data center chips and could be on its way to a new, prolonged, and sustained wave of growth.