Stocks Steady as Nvidia Pauses, Markets Await Jobs Report
TL;DR Summary
US stocks remained mostly unchanged on Thursday after a tech-driven rally, with the S&P 500 and Nasdaq near record highs. Nvidia, which recently surpassed a $3 trillion market cap, saw its early gains reverse, impacting the Nasdaq. Investors are closely watching labor data and the upcoming May jobs report, with growing hopes for interest rate cuts. Treasury yields edged up, and the European Central Bank cut interest rates for the first time since 2019. Lululemon shares rose after boosting its profit outlook, while Chipotle CEO Brian Niccol joined Walmart's board.
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