Nvidia Market Cap Hits $3T, Sending Nasdaq, S&P to Records
$NVIDIA Corp(NVDA)$
Most sectors gained as signs of weakening labor market fueled hopes that the US Federal Reserve could start cutting interest rates in the next few months. Advancers totaled 8,769 stocks, while decliners reached 4,596.
The tech-heavy $NASDAQ(.IXIC)$
Nvidia shares climbed 5.2% to a record $1,224.40, taking the market capital of the leader in chips used to power artificial intelligence applications to $3.012 trillion. That surpassed $Apple(AAPL.US)$'s $3.003 trillion valuation.
The Nvidia party is also playing out in the options market, with 2.05 million of its stock options traded. Call options volume reached 1.23 million, while put options were at 817,640.
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