Nvidia stock is rising as the AI chipmaker is poised to replace Intel in the Dow
On the eve of Election Day, the Dow Jones slid 200 points as investors held back, anxiously awaiting the results. The subdued stock activity coincided with a rally in safe-haven U.S. Treasurys, indicating that some investors are shifting toward lower-risk assets in anticipation of potential market volatility.
By afternoon, the Dow Jones Industrial Average had dipped by 203 points, or 0.4%, while the S&P 500 and Nasdaq $NDAQ showed slight gains of 0.16% and 0.10%, respectively. The cautious trading reflects broader market sentiment, with investors balancing optimism against uncertainty ahead of the election outcome.
Palantir $PLTR Technologies (PLTR) is set to release its earnings report after the closing bell. Known for its advanced AI tools used by military and intelligence agencies, Palantir has become a prominent player amid the tech world’s ongoing AI surge. Moreover, this Thursday, investors will closely monitor the Federal Open Market Committee’s interest rate decision, as well as the subsequent press conference featuring Fed Chair Jerome Powell.
Nvidia $NVDA (NVDA) shares rose over 1% on Monday as the AI chipmaker is set to join the Dow Jones Industrial Average, which comprises the 30 leading U.S. stocks. This inclusion marks a significant milestone for Nvidia and reflects its growing influence in the tech and AI sectors.
Warren Buffett’s Berkshire Hathaway $BRK.B (BRK.A) has continued to sell off considerable stakes in several companies as it grows its cash pile to a record $325.2 billion.
— Rocio Fabbro contributed to this article.
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