Nasdaq Briefly Rallies Back to Breakeven. Nvidia Keeps Plowing Higher.
Another burst of buying in Nvidia stock helped lift the Nasdaq Composite back to breakeven on a day when most stocks were falling on tariff fears.
The tech-heavy index was down 0.1% after briefly turning positive, while the S&P 500 was down 0.3%. The Dow was off 261 points, or 0.6%. Any close higher for the Nasdaq or S&P 500 would be a record. Only 83 S&P 500 stocks were rising.
Nvidia stock was up 2.2% as the most valuable U.S. company kept building on its record-setting $4 trillion valuation. Wall Street is piling into the chip stock ahead of the second-quarter earnings season. The market’s rebound from April lows has been partly due to a surge in enthusiasm for artificial intelligence stocks.