US stocks open up, shrugging off Nvidia woes
NEW YORK — Wall Street stocks advanced early Monday, shrugging off a big drop in Nvidia shares as oil prices retreated and other artificial intelligence stocks rose. Crude prices fell more than four percent on diplomatic hopes concerning the US-Iran war, while many tech giants like Google parent Alphabet and leading AI companies such as Micron were higher after the group badly sold off on…
New York – Early Monday, Wall Street stocks jumped despite a sharp decline in Nvidia shares. Oil prices dropped over four percent due to optimism surrounding US-Iran tensions, while numerous technology and AI firms surged following a significant sell-off the previous Thursday. Analyst Steve Sosnick of Interactive Brokers stated that the market seemed to treat last week's events as a one-day occurrence.
As of about 25 minutes into trading, the Dow Jones Industrial Average climbed 1.4 percent to 52,009.10. The S&P 500 increased 1.7 percent to 7,499.41, and the tech-dominated Nasdaq Composite Index surged 2.1 percent to 25,087.25. Nvidia's stock plummeted around five percent after the company announced an investigation into CEO Jensen Huang following allegations he was targeted by Chinese intelligence.
However, the chipmaker is currently viewed as an isolated incident, with investors primarily motivated by a general positive sentiment.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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