Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
US close: S&P 500 and Nasdaq set new highs as eyes turn to Nvidia
(Sharecast News) - US stocks edged higher on Tuesday, with the S&P 500 and Nasdaq both reaching new heights, though gains were modest as investors showed caution ahead of Nvidia's blockbuster earnings and minutes from the latest Federal Reserve policy meeting. Despite a subdued start, the S&P 500 rose 0.25% to a new high of 5,321.41 - its 24th record close of the year so far - while the Nasdaq Composite gained 0.22% to a fresh peak of 16,832.62.
Meanwhile, the Dow finished 0.17% higher at 39,872.99. The index pulled back the previous session after closing above the 40,000 mark for the first time last Friday.
"Today provides markets with their final chance to position themselves ahead of tomorrow's pre-open release of earnings from Nvidia, with the tech giant providing perhaps the final major hurdle to overcome for first quarter earnings season," said Joshua Mahony, chief market analyst at Scope Markets.
On the macro front, Federal Reserve governor Christopher Waller said he needs to see "several more months" of good inflation data before even considering backing interest rate cuts, while Atlanta Fed president Raphael Bostic said he expects to see inflation continuing to ease but cautioned that the central bank must be careful when it comes to its first rate move.
All eyes on Nvidia
Chipmaker Nvidia, which reports quarterly results on Wednesday, is largely seen as the posterchild for the massive surge in US equity markets so far this year, as investors continue to pour into names in the AI space. The stock rose 0.6% on Tuesday to a new record high, having gained 20% over the past month.
"This year is expected to see Nvidia attempt to double its earnings per share, with the $12.96 reported for 2023 expected to surge into a figure closer to $25.15," Mahony from Scope Markets said. "However, the dramatic gains seen over the past year provide a tough backdrop for the business to operate within, as double-digit quarterly gains are the bare minimum."
JPMorgan Chase & Co was bouncing back after dropping sharply on Monday on the back of comments from boss Jamie Dimon, who hinted that he may leave the firm within five years (earlier than expected) and said that the company wouldn't be repurchasing as much stock at current levels.
Shares in home improvement retailer Lowe's were lower despite better-than-expected first-quarter earnings and revenue results, while cybersecurity company Palo Alto Networks dropped after underwhelming with in-line current-quarter guidance.
On the upside, retailer Macy's topped earnings expectations with its latest quarterly numbers as its new turnaround plan started to bear fruit, while Autozone missed estimates with net sales and earnings growth.
Dow Jones - Risers
International Business Machines Corporation (CDI) (IBM) $173.47 2.09% JP Morgan Chase & Co. (JPM) $199.52 2.01% Goldman Sachs Group Inc. (GS) $470.41 1.61% Walmart Inc. (WMT) $65.15 1.51% Unitedhealth Group Inc. (UNH) $523.75 1.22% Nike Inc. (NKE) $92.82 1.14% Microsoft Corp. (MSFT) $429.04 0.87% Apple Inc. (AAPL) $192.35 0.69% Procter & Gamble Co. (PG) $168.45 0.62% Coca-Cola Co. (KO) $62.96 0.54%
Dow Jones - Fallers
Walgreens Boots Alliance, Inc. (WBA) $16.68 -6.40% 3M Co. (MMM) $103.19 -1.97% Verizon Communications Inc. (VZ) $39.62 -1.25% Salesforce.Com Inc. (CRM) $283.76 -1.15% Intel Corp. (INTC) $31.74 -1.12% Caterpillar Inc. (CAT) $359.07 -1.01% Boeing Co. (BA) $184.78 -0.98% Visa Inc. (V) $275.98 -0.93% McDonald's Corp. (MCD) $265.87 -0.75% Chevron Corp. (CVX) $159.97 -0.73%
S&P 500 - Risers
Macy's Inc. (M) $20.09 5.13% Fluor Corp. (FLR) $40.88 4.85% Dollar General Corp (DG) $142.60 3.46% Johnson Controls International plc (JCI) $73.07 3.17% Hanesbrands Inc. (HBI) $4.99 3.10% Macerich Co (MAC) $15.72 2.76% HP Inc (HPQ) $32.69 2.73% Corning Inc. (GLW) $36.48 2.70% Bread Financial Holdings, Inc. (BFH) $42.53 2.66% Eli Lilly and Company (LLY) $803.53 2.55%
S&P 500 - Fallers
Keysight Technologies Inc. (KEYS) $146.37 -8.38% Walgreens Boots Alliance, Inc. (WBA) $16.68 -6.40% Equifax Inc. (EFX) $238.05 -5.42% Union Pacific Corp. (UNP) $234.95 -3.56% AutoZone Inc. (AZO) $2,820.83 -3.53% American Airlines Group (AAL) $14.03 -3.37% Seagate Technology Plc (STX) $93.60 -3.32% Globe Life Inc. (GL) $83.33 -3.12% CenturyLink Inc. (LUMN) $1.26 -3.08% J.B. Hunt Transport Services Inc. (JBHT) $159.27 -2.94%
Nasdaq 100 - Risers
Tesla Inc (TSLA) $186.60 6.66% Gen Digital Inc. (GEN) $25.05 2.37% Lam Research Corp. (LRCX) $964.00 2.33% eBay Inc. (EBAY) $52.17 1.81% QUALCOMM Inc. (QCOM) $200.85 1.56% Netflix Inc. (NFLX) $650.61 1.53% Booking Holdings Inc. (BKNG) $3,822.34 1.43% Western Digital Corp. (WDC) $74.01 1.31% Dollar Tree Inc (DLTR) $114.70 1.08% Costco Wholesale Corp. (COST) $800.93 1.00%
Nasdaq 100 - Fallers
Walgreens Boots Alliance, Inc. (WBA) $16.68 -6.40% NetEase Inc. Ads (NTES) $98.90 -5.57% Qurate Retail Inc. (QRTEA) $0.71 -5.22% JD.com, Inc. (JD) $33.29 -4.20% Baidu Inc. (BIDU) $105.14 -3.43% American Airlines Group (AAL) $14.03 -3.37% Sirius XM Holdings Inc (SIRI) $2.89 -3.34% Seagate Technology Plc (STX) $93.60 -3.32% J.B. Hunt Transport Services Inc. (JBHT) $159.27 -2.94% Expedia Group Inc. (EXPE) $111.71 -2.28%
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.