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  • NEWS Desk Global

NASDAQ CROSSES 17,000 MARK AHEAD OF INFLATION TEST




The Nasdaq breached the 17,000 level for the first time on Tuesday, buoyed as AI darling Nvidia jumped to a record high, even as focus shifted to key inflation data later in the week that could sway expectations for the Federal Reserve's rate-cut path. Nvidia's gains lifted its fellow chip stocks, with the Philadelphia Semiconductor Index up 1.7% as traders returned from a holiday-extended weekend.

The Dow lagged other indexes as healthcare and financial stocks dragged. Healthcare also led the S&P 500 subsector losses, weighed by an 8% drop in Moderna. The possibility that the world's most influential central bank could kick off interest-rate cuts this year has sent Wall Street on a record-breaking rally since late 2023, with the Nasdaq and S&P 500 marking their fifth straight week of gains on Friday.

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