Wall Street ends mixed awaiting debt vote

The New York Stock Exchange ended mixed on Tuesday, pending the Congress of The United States votes on the agreement reached between the White House and the Republican group to avoid a default of the world’s largest economy.
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The Dow Jones index fell 0.15% to 33,042.78 points, while the S&P 500 remained stable at 4,205.52 units.

Instead, driven by the technology sector and in particular by semiconductors, star product in the context of the artificial intelligence (AI) explosion, the Nasdaq closed up 0.32%, at 13,017.43 units after rising up to 1.4% during the day.

(See: The Nasdaq technology index advanced 1.71% due to the pull of Nvidia).

The event of the day was the rise of Nvidia, the maker of ultra-powerful processors and graphics cards, key to AI, which allowed it to enter the “billion dollar club”.

At the opening, the Santa Clara, California group, exceeded this level for the first time in its history. Its shares have gained 175% since the beginning of the year. Nvidia thus joins giants such as Apple, Microsoft, Amazon, Alphabet and the Saudi Saudi Aramco.

In the second part of the day, Nvidia lost ground and fell below the value of 404.86 per share needed to exceed a trillion dollars in the stock market, and closed at 401.11, up 2.99%.

(See: European stocks fall due to US consumer confidence data).

“The Nasdaq led the way with Nvidia (…) but the focus continues to be on Washington and the House of Representatives”, pointed out Edward Moya, from Oanda.

The House of Representatives will vote Wednesday on the draft agreement to eliminate the debt limit of the United States for two years, and the Senate could vote over the weekend.

(See: The US debt ceiling, amid partisan fight).

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