The stock market opened with a mixed tone on Tuesday morning, with the Nasdaq showing strength while the Dow Jones Industrial Average and S&P 500 lagged behind. Nvidia, in particular, continued to surge and reached a new high.
The Dow Jones fell by 0.3%, while the S&P 500 saw minimal change. On the other hand, the Nasdaq climbed 0.4%, led by Nvidia’s performance. The Russell 2000 index of small-cap stocks also rose by nearly 0.2%.
Trading volume was higher on both the Nasdaq and the NYSE compared to Friday’s session, with the stock market being closed on Monday for the Memorial Day holiday.
Looking ahead, there are some key economic reports to watch for, including the Fed’s Beige Book on Wednesday and the Personal Consumption Expenditures data for April on Friday. Earnings reports from companies like Salesforce, Abercrombie & Fitch, and Cava are also on the horizon this week.
Meanwhile, stocks like GameStop, U.S. Cellular, and Celsius Holdings experienced notable movements in response to various news developments. DraftKings and Flutter Entertainment took a hit due to new tax regulations in Illinois, while Apple saw a bump in its stock following positive sales data from China.
Overall, the market remains dynamic and influenced by a variety of factors, making it important for investors to stay informed and adaptable to changing conditions.
