NEW YORK — Wall Street is rising Wednesday as the pressure that's built on stocks recently from the bond market relaxed a bit.
Nvidia, another one of the market's most influential stocks, was 2.8% higher ahead of its profit report scheduled to come out after trading ends. It's a pivotal test for the entire stock market because it could show whether the frenzy around artificial-intelligence technology that's helped to lift Wall Street this year is deserved or overdone.
Nvidia and a just a handful of other companies were behind the majority of the S&P 500’s gains earlier this year. Many of those “Magnificent Seven” stocks were benefiting from the AI frenzy as well. “A near-stalling of business activity in August raises doubts over the strength of US economic growth in the third quarter,” said Chris Williamson, chief business economist at S&P Global Market Intelligence.
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