S&P 500 Rises Slightly as Nvidia Tries to Rebound
Stocks ticked higher on Wednesday as artificial intelligence giant Nvidia recovered some of its losses from the prior session.
The S&P 500 rose 0.2%, while the Nasdaq Composite advanced 0.3%. The Dow Jones Industrial Average climbed 102 points, or 0.2%.
Nvidia gained 0.5%, regaining some of the decline from the prior day that was dominated by heightened fears about the circular nature of the AI industry, sparked by a partnership between the chipmaker and OpenAI. Nvidia, along with fellow leading AI player Oracle, tumbled Tuesday on worries the advance was running out of steam with the outlook already priced into the shares.
Signaling that confidence in the AI trade is still in question, shares of Micron Technology moved lower by 2% as the company’s earnings and forecast weren’t strong enough to impress investors.
Source : CNBC.com