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Wall Street Sets New Highs on Nvidia Push as Paris Stocks Rebound

Investors await Jerome Powell's remarks this week to gauge the path of further Fed cuts before Friday's PCE reading.

Overview

  • U.S. benchmarks closed at records Monday, with the Nasdaq up 0.70%, the S&P 500 up 0.44%, and the Dow up 0.14%.
  • Nvidia said it will invest $100 billion to build data centers for OpenAI, lifting its shares 3.93% and energizing mega-cap tech.
  • Oracle rose 6.29% after the White House said it will host and manage TikTok’s U.S. data and a copy of its algorithm under the app’s new U.S. setup.
  • Pfizer agreed to buy obesity-drug developer Metsera for $4.9 billion, sending Metsera up 60.8% on the day.
  • The CAC 40, down 0.30% Monday, advanced 0.91% to 7,901.56 on Tuesday morning as eurozone PMI rose to 51.2 while France’s reading contracted at 48.4, with markets focused on Powell’s speech today.