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S&P 500, Nasdaq gain as investors await Nvidia earnings; Tesla jumps

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Nov 18 - The S&P 500 and the Nasdaq rebounded on Monday, recovering some losses as Tesla , jumped on the prospect of favorable policy changes from the incoming Trump administration and investors awaited quarterly results from AI leader Nvidia.

"What we got last week was a hangover from the post-election rally. We've been able to rally back a little , but it's kind of slow," said Jay Woods, chief global strategist, Freedom Capital Markets. The Dow Jones Industrial Average , fell 14.27 points, or 0.03%, to 43,430.72, the S&P 500 , rose 24.57 points, or 0.43%, to 5,895.64 and the Nasdaq Composite , gained 124.83 points, or 0.67%, to 18,805.96.

Stock indexes have shed some of the sharp gains that followed Trump's decisive victory, but Wall Street remains fairly well placed as 2024 winds down. The benchmark index has gained about 23% year-to-date. CVS Health's , shares gained 5.5% after the health insurer said it would add four new members to its board in an agreement with Glenview Capital Management.

 

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