His image is mixed Wall Street in the current session, with Nvidia stock falling for the second session in a row.
THE S&P 500 fell 0.16% to close at 5,464.62 units, while o Nasdaq fell 0.18% to 17,689.36 points. In contrast, the Dow Jones strengthened by 15.57 points or 0.04% to 39,150.33 points.
“Technology stocks are still in the spotlight. I can’t remember another time when a stock was able to influence the market,” said Emily Roland, strategist at John Hancock Investment Management.
Shares of Nvidia fell 3.2%, after falling more than 3% on Thursday, the same day it hit a record high in the morning. However, year to date, Nvidia is up 155%, even temporarily eclipsing Microsoft from the top spot to become the most valuable publicly traded company on Tuesday.
Intra-session today the S&P 500 recorded a record of 5,505.53, while on a weekly basis it showed an increase of 0.6%. The Nasdaq closed flat on the week, while the Dow Jones gained 1.45% for its best weekly performance since May.
There have been some signs in recent sessions that the rally has gone too far, although it is uncertain whether the AI-fueled bull run has reached its limits. Even Nvidia is showing some signs that its upward momentum may be starting to slow.
“This might not be a bad time to cash in some of our earnings from the processor business. We’ve had an impressive rally and the market seems to have reached a tipping point,” Dave said. Greczek, CEO of Aspirant.
Today’s session is more nervous than usual because of the so-called triple witching, which is the expiration of stock options, options that follow the stock index and futures options that follow the stock index.