Despite Nvidia's problems, stocks rise as buyers intervene — US Market Wrap
Following a technology selloff that had roiled Wall Street, a renewed wave of dip buying lifted stocks to their best day since April, with the market also benefiting from falling oil prices. Following a pullback in one of the world's most crowded markets, a chipmaker index rose 6.9%. The S&P 500 increased by 2.3%. The Nasdaq 100 gained 3.4%. That's despite Nvidia falling 4.3% amid an inquiry into CEO Huang's admission of having an affair with a woman described in a series of headlines as a potential Chinese spy. A decline in oil costs fueled hope about attempts to settle the Iran war. Trump took a more conciliatory tone, saying it's "highly unlikely" he'll launch widespread strikes on the Islamic Republic. This served to alleviate concerns about inflation ahead of consumer price data, the final before the Federal Reserve meeting in December. Nonetheless, 10-year Treasury yields decreased as riskier assets rose. Anthropic has released new versions of its formidable Mythos and Fable AI models, aiming to strengthen the company's position as an AI development pioneer on the eve of its long-awaited Wall Street debut.
Following a technology selloff that had roiled Wall Street, a renewed wave of dip buying lifted stocks to their best day since April, with the market also benefiting from falling oil prices. Following a pullback in one of the world's most crowded markets, a chipmaker index rose 6.9%. The S&P 500 increased by 2.3%. The Nasdaq 100 gained 3.4%.
That's despite Nvidia falling 4.3% amid an inquiry into CEO Huang's admission of having an affair with a woman described in a series of headlines as a potential Chinese spy. A decline in oil costs fueled hope about attempts to settle the Iran war. Trump took a more conciliatory tone, saying it's "highly unlikely" he'll launch widespread strikes on the Islamic Republic. This served to alleviate concerns about inflation ahead of consumer price data, the final before the Federal Reserve meeting in December.
Nonetheless, 10-year Treasury yields decreased as riskier assets rose. Anthropic has released new versions of its formidable Mythos and Fable AI models, aiming to strengthen the company's position as an AI development pioneer on the eve of its long-awaited Wall Street debut.