US Stock Rally Propped Up by Nvidia’s Climb: Markets Wrap
- Consumer confidence reading falls most in three years
- Companies with China exposure get a boost from stimulus plans
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US stocks held onto gains buoyed by a jump in Nvidia Corp.’s shares as traders largely shrugged off a grim consumer confidence reading.
The S&P 500 Index edged up 0.3% — ending the day with its 41st record close this year — the blue-chip Dow Jones Industrial average also notched a record with a 0.2% gain while the tech-heavy Nasdaq 100 rose 0.5%. A sweeping stimulus package from China helped shore up stocks with economic ties to the country.