US stocks perked up on Tuesday, eyeing fresh record highs as investors fielded the latest rush of earnings and looked to the Federal Reserve meeting to confirm interest rate cuts are on the way.
The Dow Jones Industrial Average (^DJI) rose 0.7% while the tech-heavy Nasdaq Composite (^IXIC) moved up around 1%. The S&P 500 (^GSPC) ticked 0.5% higher with the benchmark topping 6,900 for the first time, extending Monday’s jump amid rising hopes for a US-China trade deal.
Nvidia (NVDA) provided a lift to the markets as CEO Jensen Huang gave the keynote address at its GTC event. Shares rose to an intraday all-time high, up over 5% as Huang said the AI industry has “turned a corner” while announcing new partnerships.
Big Tech’s eye-popping run faces a key test starting Wednesday, when “Magnificent Seven” megacap tech companies, including Alphabet (GOOG), Apple (AAPL), Meta…
