Nvidia Leads Nasdaq to New Heights Amid Mixed Wall Street Performance

On Tuesday, the Nasdaq Composite attained another record close, primarily fueled by Nvidia's impressive performance, while other Wall Street indices showed less enthusiasm as key inflation figures and bank earnings delivered lukewarm signals to investors. This marks the fourth record-setting session for the Nasdaq in five days.

Nvidia's decision to restart sales of its H20 AI chip to China boosted its stock, prompting gains in other semiconductor companies such as Advanced Micro Devices and Super Micro Computer. The semiconductor and S&P technology indices also saw increases. Rob Swanke of Commonwealth Financial Network remarked that this development led some investors back into technology sector, albeit possibly temporarily.

Despite Nasdaq's positive turn, the broader market faced challenges: the S&P 500 dipped by 0.40% and the Dow Jones Industrial Average was down by 0.98%. Inflation reports indicated a significant rise in consumer prices, suggesting tariffs are beginning to impact the economy, yet underlying inflation remains steady. As second-quarter earnings season kicked off, financial stocks displayed volatility, with mixed results from giants like JPMorgan Chase and Wells Fargo, contrasting with Citigroup's robust gains.

(With inputs from agencies.)