Nvidia's Bold Investment Boosts Market Momentum Amid Fed Deliberations

U.S. stock markets gained momentum as all three major indexes experienced an upswing on Monday afternoon. Nvidia's shares saw a notable 3.6% rise following the company's announcement of a $100 billion investment in OpenAI, prompting a significant boost in both the S&P 500 and the Nasdaq. Similarly, Apple shares climbed by 3.8% after Wedbush elevated its stock target price due to robust demand indicators for the iPhone 17, a move that led the S&P 500 tech sector to advance by 1.7%.

Investors' attention remained focused on the Federal Reserve as officials voiced differing opinions post the central bank's recent 25-basis-point rate cut. While St. Louis Fed President Alberto Musalem and Atlanta Fed President Raphael Bostic deemed the adjustment apt for addressing unemployment risk, they emphasized inflation control. Contrastingly, Fed Governor Stephen Miran, having dissented in favor of a more substantial rate cut, warned that monetary policy is already restrictive.

The Dow Jones Industrial Average grew by 74.36 points, closing at 46,389.63. Meanwhile, the S&P 500 increased by 29.82 points to 6,694.18, and the Nasdaq Composite added 159.81 points to reach 22,791.29, marking record closings for the consecutive sessions. President Donald Trump's announcement of increased visa fees for foreign workers and criticisms of Kenvue's product links to health risks emerged as contentious topics, as reflected in the tech sector's varied responses.

(With inputs from agencies.)