economy
Nvidia's Long-Awaited Stock Breakout Is Proof That Patience Pays Off
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- The S&P 500 reached a new intraday high for the year, continuing its rebound.
- Megacap tech stocks including Apple, Meta, Broadcom, Tesla, and Microsoft powered the index higher.
- Enterprise software names also rallied, extending their recovery from multiyear lows.
- Industrials were the worst-performing S&P 500 sector, potentially impacted by changes in Section 232 metal tariffs.
- CoreWeave announced a $6 billion commitment from Jane Street to use its AI cloud platform, utilizing Nvidia's chips.
- Nvidia's shares rose, extending an 11-session win streak and briefly topping $200.
- Upcoming earnings reports include JB Hunt, Taiwan Semi, PepsiCo, Charles Schwab, Prologis, Abbott Labs, and BNY Mellon.
- Key data releases include weekly jobless claims and March Industrial production.