The Nasdaq This Tuesday, May 30, led the gains among the main indexes of Wall Streetdriven by the actions of nvidiaamid optimism about the preliminary agreement to raise the US debt limit and thus avoid default.
The Industrial Average Dow Jones fell 139.42 points, or 0.4%, to 32,953.92 units and the index S&P 500 it is trading almost flat with a slight rise of 1.04 points, or 0.02%, to 4,206.49 units; while the Nasdaq Composite It advanced 74.08 points, or 0.6%, to 13,049.08 units.
“The market is cautiously assessing that the deal has been closedsaid Thomas Hayes, president of Great Hill Capital LLC.
Reflecting investor optimism, the cost of insuring exposure to a US debt default continued to fall on Tuesday, while longer-term Treasury yields fell.
The chip maker Nvidia Corporation scale 6.2%, surpassing for the first time the trillion dollars of market capitalization. The actions of Microsoft Corp.an artificial intelligence heavyweight, added up to 0.7%.
The index Philadelphia SE Semiconductor it was up 2.2%, hitting its highest since February 2022. The broader S&P 500 tech sector index was up 2%.
Preliminary agreement on the US debt ceiling
The president of United States, Joe Bidenand the Republican leader of the House of Representatives, kevin mccarthysigned an agreement on Sunday to temporarily suspend the debt ceiling and limit some federal spending.
The House Rules Committee said it will meet to discuss the bill. Though several far-right Republican lawmakers have said they will oppose it, in a sign the bipartisan deal could face a rocky road through Congress.
Source: Ambito
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