S&P 500 hits record high boosted by NVIDIA and GE Vernova

AWANI

The S&P 500 closed at a record high, driven by strong performances from NVIDIA and GE Vernova, as optimism grew over a potential EU-U.S. trade deal and upbeat earnings reports; Tesla and Alphabet remain in focus ahead of their quarterly results amid investor concerns over competition and leadership impact.

Transcript

00:00The S&P 500 notched a record-high close on Wednesday, lifted by Nvidia and GE Vanova

00:07as the European Union and the US appeared headed toward a trade deal similar to an agreement

00:16US President Donald Trump struck with Japan.

00:19The benchmark S&P 500 has now climbed about 8% in 2025.

00:24Shares of GE Vanova surged to an all-time high after the power equipment maker raised its revenue

00:32and free cash flow forecast and beat Wall Street estimates for a second quarter profit.

00:38Heavyweight AI chipmaker Nvidia climbed and filled against the S&P 500 and Nasdaq.

00:45Tesla swung between losses and gains ahead of its quarterly report due after the closing bell.

00:51Investors will focus on electric vehicle makers and at least conference call.

00:57They have breached for Tesla to report a steep drop in revenue related to mounting competition,

01:03a lack of new car models and consumer backlash against CEO Alan Maas.

01:09I think in particular it really is kind of a stepping stone for what we're going to see in Europe.

01:13I think the EU is probably next on the agenda.

01:16Again, it's not going to be anywhere near as complicated as the Chinese tariffs.

01:19But I think that's the president's goal is to get some wins under his belt, go to Japan, go to the EU,

01:24get some of those, and ultimately push the most difficult tariff negotiations with China off a little bit.

01:30A lot of institutions are kind of positioned not really aggressively in this market.

01:34When you look at the futures markets, the S&P is not, you know, the options market's not grossly overweighted.

01:39So I think you've got some people that are expecting some volatility.

01:42And some of these announcements that come out are positives,

01:44and people are not in a great position, so they have to keep buying them.

01:48So yeah, I would expect as we get more and more of these deals, the market to continue to go higher.

01:53At some point, you think it's fully priced in, but days like today show you it's not.

Category

Transcript

Be the first to comment

Recommended