On Tuesday, the three major Wall Street indexes saw increases: the Dow Jones Industrial Average climbed by 320.33 points (0.83%) to 39,110.76, the S&P 500 rose by 29.09 points (0.56%) to 5,178.51, and the Nasdaq Composite advanced by 63.34 points (0.39%) to 16,166.79.
The uplift was partially driven by Nvidia’s recovery, as its shares turned positive by 1% following the announcement of its new AI chip, the Blackwell B200, promising performance up to 30 times faster than existing models.
Significant gains were observed in shares of Home Depot (2%), McDonald’s, and Apple Inc (over 1% each), contributing to the Dow’s performance. However, the communications services sector slightly declined by 0.2%, while energy stocks led the gains with a 1.1% increase amid rising oil prices.
Investors’ focus was on the upcoming Federal Reserve’s policy meeting, with expectations for a cautious approach to interest rate decisions amid inflation concerns.
Crypto-related stocks such as Coinbase Global and Riot Platforms saw declines of almost 4% and 3%, respectively, in line with a 5% drop in bitcoin value. MicroStrategy’s shares fell by 5.7% after a significant convertible debt offering, while Super Micro Computer’s stock tumbled by just under 9% following a share sale announcement. In contrast, Spire Global’s shares soared by 30.4% due to a collaboration with Nvidia on AI weather forecasting.
Overall market activity showed more advancing than declining issues, with trading volume reaching 10.74 billion shares.
