US stocks add to records as Nvidia hits $5 trillion

New York, Oct 29, 2025 (AFP)
Wall Street stocks rose early Wednesday, adding to records as artificial intelligence giant Nvidia's market value soared above $5 trillion while exchanges awaited a US Federal Reserve interest rate decision.
Nvidia, which in July became the first company to top $4 trillion, followed that up by becoming the first to hit $5 trillion following a company event Tuesday in which it announced new ventures building on its AI technology.
Markets are looking ahead to a deluge of earnings from tech giants later Wednesday, including reports from Microsoft, Google parent Alphabet and Facebook owner Meta Platforms.
"The market is expecting nothing but good and better news from these companies, leaving virtually no room for disappointment," said Briefing.com analyst Patrick O'Hare.
About 35 minutes into trading, the Dow Jones Industrial Average was up 0.5 percent at 47,964.20.
The broad-based S&P 500 advanced 0.3 percent to 6,913.88, while the tech-rich Nasdaq Composite Index climbed 0.6 percent to 23,976.84.
All three benchmarks closed at record highs Tuesday.
While markets have priced in a quarter percentage-point interest rate cut, markets are looking for signals about the December meeting from Federal Reserve Chair Jerome Powell.
"The press conference is going to be where the action happens," said Art Hogan of B. Riley Wealth Management, who alluded to the dearth of key employment data and other economic reports due to the government shutdown.
"This is a Fed chair that will have to describe how the (Federal Reserve) gets to a decision on rates in the absence of government data, which is no easy task."

Sumber : AFP