Nasdaq Hits Record High Ahead of Nvidia's Earnings Report | US Stock Market

Nasdaq Hits Record High Ahead of Nvidia's Earnings Report | US Stock Market

The US stock market index Nasdaq hit a record high on May 20, with investors awaiting Nvidia's quarterly earnings report and the Federal Reserve's latest meeting minutes. The Nasdaq Composite rose by 0.65% to 16,793.76, driven by tech shares like Nvidia and Micron Technology. Chipmaker Nvidia's shares rose by 2.8% during the trading session. Analysts expect Nvidia to outline its strategy for maintaining dominance in the AI chip market as it announces quarterly earnings. Meanwhile, the Federal Reserve's monetary policy meeting minutes, due on May 22, are awaited for insights on potential interest rate cuts. In the last trading session, the S&P 500 climbed by 0.33% to 5,320.62, while the Dow Jones Industrial Average dipped slightly to 40,001.38.

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