Stocks Advance as Nvidia Closes at All-Time High: Markets Wrap
- Investors look to Jensen Huang speech to spark next breakout
- Dollar pares losses as Trump denies report on curbed tariffs
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A rally in the world’s largest tech companies lifted stocks at the start of the first full trading week in 2025. The dollar trimmed losses as President-elect Donald Trump said his tariff plan won’t be scaled back.
While most shares in the S&P 500 fell, dip buying fueled gains in Wall Street’s most-influential group. A gauge of the “Magnificent Seven” megacaps climbed 2%. Nvidia Corp. hit a record high ahead of chief Jensen Huang’s speech. Banks climbed on deregulation optimism, with Michael Barr stepping down as the Federal Reserve’s vice chair for supervision. The news also fueled a steepening of the Treasury curve, with longer maturities underperforming. The yield on 30-year bonds hit the highest since late 2023.