U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 400 points on Monday.
The NASDAQ 100 rallied slightly in the early hours on Monday, as we continue to see a lot of noisy upward pressure after the election.
The Dow is less representative of value and dividend stocks and more focused on general industry leadership.
The stock market, including the Dow Jones, is at fresh heights following the election victory of Donald Trump. Now new inflation data looms.
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NVIDIA Corp (NASDAQ:NVDA, ETR:NVD) officially joined the Dow Jones Industrial Average on Friday, underscoring the artificial intelligence (AI) chipmaker's rising prominence in the tech sector and AI-driven economy. The stock is set to close the week with a gain of roughly 9%, bolstered by demand for Nvidia's AI chips.
Chipmaker Nvidia (NVDA) and paint company Sherwin-Williams (SHW) have joined the Dow Jones Industrial Average (^DJI) this Friday, replacing Intel (INTC) and Dow Inc. (DOW). Yahoo Finance markets and data editor Jared Blikre joins the Morning Brief to break down the push for more tech representation in the Dow, which historically lacked many tech stocks until companies like Microsoft (MSFT) and Intel joined during the dot-com bubble.
US equity benchmarks rose slightly on Friday as investors assessed the Federal Reserve's interest rate cut on Thursday. The US Fed cut interest rates by 25 basis points on Thursday, and Chair Jerome Powell hinted at further easing of monetary policies in the coming months.
Nvidia's stock is now a below-average member of the 128-year-old Dow Jones Industrial Average.
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The tech stock landscape may look quite different over the next four years with President-elect Donald Trump returning to office. For one, AI regulation of some form will likely have to come from the Trump administration as the fast-moving technology was not clamped down on by the Biden administration.
The US indices that I follow here at FX Empire all look very strong at the end of the week, as the US elections are finally behind us, and the Federal Reserve did exactly as expected on Thursday.