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Stock market today: Nasdaq jumps as Nvidia turns a corner

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Nasdaq Composite News

Nvidia

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

US stocks held broadly steady on Tuesday with AI chipmaker Nvidia eyeing a cautious comeback from a three-day skid as investors squared away their portfolios for the quarter's end. The tech-heavy Nasdaq Composite moved up roughly 0.7%, while the benchmark S&P 500 rose 0.2%. The Dow Jones Industrial Average remained the only major index in the red, slipping about 0.3% after surging over 200 points 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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