Stock Market Today: Live Updates

Stocks rose on Tuesday as the Federal Reserve began its two-day policy meeting. Traders were also keeping an eye on Nvidia following a major announcement from the tech giant.

of Dow Jones Industrial Average Increased by 266 points (0.7%). The 30-stock average had its best day since February 22nd. S&P500 rose 0.3%, Nasdaq Composite It advanced by 0.1%.

The central bank is expected to keep interest rates unchanged on Wednesday. But a recent spate of worrying inflation reports has investors worried that the central bank could signal that interest rates will remain high for longer than expected.

U.S. Treasury yields fell broadly and stock prices rose. The benchmark 10-year U.S. Treasury yield fell 3 basis points to 4.312%.

Chip darling Nvidia rose 0.6%, recovering from earlier losses, as investors appreciated news of its first GTC conference. CEO Jensen Huang unveiled NVIDIA’s latest AI chip, dubbed Blackwell, touting it as a significantly more powerful successor to the chip that powers many AI operations.

super microcomputer, a major vendor that builds Nvidia’s AI servers, fell more than 9.5% on news of a stock offering. The stock has soared more than 250% this year on the back of AI enthusiasm, and the stock was added to the S&P 500 on Monday.

Bitcoin proxies are another sign that the recent bull market may be slowing. micro strategy It fell more than 8%. Stock prices more than doubled in 2024 as Bitcoin soared to record highs.

Sam Stovall, chief investment strategist at CFRA Research, said a “healthy” market digest after the recent rally will either be slower or deeper than investors expected.

“We have a long way to go before the AI ​​revolution, so any decline we’re seeing now is definitely not an end, but rather just a bit of a take-up of recent gains,” Stovall said, adding that traders added, “There is a possibility that they are taking profits.” It is based on the known as a reaction to the unknown. ”