Nasdaq Hits Record High as GameStop Soars and Fed Eyes Inflation Data

The Nasdaq Composite closed above 17,000 for the first time, driven by Nvidia shares, while the Dow Jones fell over 200 points due to hawkish comments from Fed's Neel Kashkari, who emphasized the need for more inflation data before cutting rates. GameStop shares surged over 20% after raising $933 million from a share offering, and American Airlines' shares dropped over 8% following a reduced second-quarter sales outlook. Meanwhile, Asia-Pacific markets mostly declined, and Texas Instruments faces pressure from activist investor Elliott.