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Stock market today: S&P 500, Nasdaq jump as Nvidia surge continues

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Nasdaq Composite,Stock Indexes

Nvidia's record-breaking surge, which catapulted it to the title of world's most valuable public company, was set to continue.

Two of the major US stock indexes opened higher on Thursday as Nvidia's record-breaking surge, which catapulted it to the title of world's most valuable public company, continued. The S&P 500 gained roughly 0.4%, after the index closed Tuesday's session by securing its 31st record close of the year. The tech-heavy Nasdaq Composite rose about 0.3% while the Dow Jones Industrial Average hugged the flatline.

On Tuesday, Nvidia completed a remarkably quick surge to usurp Microsoft as the most valuable company in the world — just two weeks after it dethroned Apple as the No. 2 most valuable company. Its rise to the top has come so fast, Yahoo Finance's Jared Blikre writes, that some more passive investors haven't been able to keep up. Elsewhere on Thursday, global central banks were in focus as the Swiss National Bank cut rates for the second time this year.

 

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