Stock Market Update: Nasdaq Soars, Dow Jones Falls Ahead of Retail Earnings

The Nasdaq Composite led the gains in the US stock market, rising over 1% as tech stocks rebounded. Nvidia's surge of 7% contributed to the tech-heavy index's rise. The S&P 500 climbed about 0.6%, while the Dow Jones Industrial Average rose around 0.1%. Investors are anticipating retail sales numbers and earnings reports from major retailers like Home Depot, Target, and Walmart. Tesla's stock declined after the company cut prices in China, raising concerns about demand and margins. The demand for AI experts is increasing, with companies like Netflix and Walmart offering top dollar for talent in data science and machine learning. UBS has agreed to pay $1.44 billion in penalties to settle allegations of fraud in the sale of residential mortgage-backed securities.