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Stock market today: Nvidia rebound fuels Nasdaq rally as Dow falls 300 points

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Nasdaq,Nvidia,Dow

Stocks are hoping to add a punchline to what's been a high-flying quarter thus far.

US stocks closed mixed on Tuesday, pulled in opposite directions by the Nasdaq and the Dow, as AI chipmaker Nvidia rebounded from a three-day skid to surge nearly 7%. The tech-heavy Nasdaq Composite finished the day up roughly 1.3%, while the benchmark S&P 500 rose around 0.4%. The Dow Jones Industrial Average remained the only major index in the red, slipping 0.8%, or about 300 points, after a surge to start the week.

Elsewhere, the wait is on for Friday's update to the Personal Consumption Expenditures index, a favored inflation input for the Federal Reserve. Governor Michelle Bowman on Tuesday stressed she's willing to hike interest rates if holding them steady fails to bring price pressures under control. On the economic data front, home prices set a new record high in April although annual growth slowed from the previous month, according to the S&P CoreLogic Case-Shiller report.

 

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