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Nasdaq breaks a key value and approaches an all-time high in 2 years

The main Wall Street indices green week starts, with investors preparing for two crucial reports on inflation during the week where they will search Clues to Interest Rate Cut Prospectswhile Nvidia surpassed amazon in market value for the first time in two decades.

Nvidia surpassed amazon in market value for the first time in 20 years

Nvidia shares rise 2.5% on Wall Streetwhile those of falls 0.6% after The chip maker became the fourth most valuable American company. In this way, it surpassed the ecommerce company in market capitalization for the first time in 20 years, due to the euphoria about artificial intelligence.

Large-cap companies with the greatest exposure to artificial intelligence they headed the Wall Street rallyalso supported by the hope of a imminent rate drop and in the optimistic prospects for companies.

This is a new milestone in a four-month rally among Wall Street’s main indices, was the closing of S&P 500 above the psychological level of 5,000 points on Friday. He Nasdaq briefly exceeds 16,000 points for the second consecutive session this Monday, approaching its all-time high reached in November 2021.

In that context, the Dow Jones Industrial Average rises 211.09 points, or 0.6%, to 38,882.78 units, the S&P 500 climbs 20.51 points, or 0.4%, to 5,047.12, and the Nasdaq Composite gains 77.82 points, or 0.5%, to 16,068.48 units.

“We are at elevated levels and the real question is how much longer can this market continue to rise without any serious new catalyst on the way,” he said. Peter Cardillochief market economist at Spartan Capital Securities.

We will start focusing on macroeconomic news with the CPIwhich could lay the foundations for the market to continue rising,” he added.

Wall Street: forward perspectives with aimminent rate cut?

With more and more data reflecting a robust US economy, central bankers balked at traders’ bets on a prompt rate drop. The odds of a rate cut of at least 25 basis points in May fell to 61%, from more than 95% in early 2024according to CME’s FedWatch tool.

Among the other values, Diamondback Energy up 7%which helped the energy company to lead the 11 S&P 500 sectors up 0.8%after announcing a $26 billion deal to buy Endeavor Energy Partnersthe largest private oil and gas producer in the Permian Basin.

Citigroup drops 0.8% after Reuters would inform that US regulators asked the bank to urgently change the way it measures the default risk of its trading partners and that its own auditors have considered that a plan to improve internal supervision is lacking.

Comments from Federal Reserve officials are expected throughout the dayamong them the president of Richmond, Thomas Barkinand the head of Minneapolis, Neel Kashkariand will be analyzed for any clues about the timing of rate cuts.

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