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(FILES) The Nvidia headquarters on May 21, 2024 in Santa Clara, California. Nvidia edged ahead of other tech companies on June 18, 2024, to become the world's most valuable publicly traded company in the latest sign of the might of artificial intelligence. The chip company, which has enjoyed a monumental ascent over the last 18 months amid enthusiasm over generative AI, jumped 3.4 percent near 1725 GMT, giving it a market capitalization of about $3.3 trillion, slightly ahead of Microsoft and Apple. (Photo by JUSTIN SULLIVAN / GETTY IMAGES NORTH AMERICA / AFP)
US stocks finished mixed on Tuesday, as Nvidia reversed a recent decline to finish the day almost seven percent higher, pushing up the Nasdaq.
The Dow Jones Industrial Average closed down 0.8 percent at 39,112.16, while the broad-based S&P 500 added closed 0.4 percent higher at 5,469.30.
The tech-rich Nasdaq Composite Index was the top performing major index on Wall Street, closing up 1.3 percent at 17,717.65.
Investors also digested consumer confidence data published Tuesday, which showed that consumers in the United States have become slightly less optimistic about the state of the world's largest economy.
The next major data release comes Friday, when the Fed's favored inflation gauge is published, with economists surveyed by Dow Jones Newswires and The Wall Street Journal expecting a slight decline in the annual rate at which prices are rising.
"Basically all eyes are on the inflation," Spartan Capital Securities chief economist Peter Cardillo told AFP.
Among individual stocks, Nvidia surged 6.8 percent, reversing course after a disappointing run, while cruise ship companies Carnival and Norwegian rose by 8.7 percent and 5.1 percent respectively.
At the end of the table, the swimming pool supply company Pool Corp saw its share price fall by eight percent after slashing its guidance for the year.
