🚨Stock Market Today: S&P500 clinches record high; Nvidia now most valuable company 💰✨
On Tuesday, the S&P 500 closed at a record high of 5,487.97, rising 0.3%, with an intraday peak of 5,490.74. The NASDAQ Composite edged up 0.02%, and the Dow Jones Industrial Average increased by 0.2% (56 points).
Nvidia surged over 3%, surpassing Microsoft to become the most valuable company with a market cap of $3.34 trillion, driven by Rosenblatt Securities' bullish forecast. They raised Nvidia's price target to $200, citing strong future demand for its software.
U.S. retail sales in May rose only 0.1%, below the expected 0.3%, indicating economic caution that could influence Federal Reserve interest rate decisions.
Tesla's stock dropped 1% amid ongoing legal battles over Elon Musk's $56 billion pay package. Chegg's stock increased 3% following its announcement to cut 23% of its workforce. Lennar's stock fell nearly 5% due to disappointing third-quarter home delivery forecasts. GameStop's stock declined 2% as it plans to reduce its store network.
#KVB# #FlashNews# #BrokerNews# #StockMarket# #S&P500# #Fed# #Knowledge# #TESLA#
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