Beat the street: NVIDIA set to power Nasdaq, S&P 500; BHP-Anglo American
AI chip giant NVIDIA is on track to open above the $1,000 mark for the first time ever, powering Wall Street higher. BHP will not back down on structure and value of its Anglo American offer, say sources speaking to Reuters.
Oil prices gained despite the Fed entertaining a rate hike if inflation remains sticky.
(AI Video Summary)
NVIDIA's stellar Q1 earnings
In today's "Beat the street" financial market overview, Wall Street reacted positively to NVIDIA's stellar first-quarter earnings, recording substantial year-on-year growth in revenue and earnings, leading to a robust rise in its stock price. The company also announced a significant 10-for-1 stock split and increased dividends. Financial markets also monitored US jobless claims and PMI data, which came in close to expectations, portraying a relatively stable economic outlook.
Fed minutes
Additionally, Fed minutes revealed ongoing concerns about inflation and interest rates. There was also attention on the M&A dynamics between BHP and Anglo American, with potential implications for commodity markets, particularly copper. These developments drove investor sentiment and market trends, with NASDAQ 100 nearing record highs due to the strong performance of tech stocks like NVIDIA.
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