Editor's PiCK
[New York Stock Market Briefing] NVIDIA reclaims world No. 1 market capitalization... Indices remain flat
Summary
- The main indices of the New York stock market remained flat.
- NVIDIA reclaimed the position as the world's No. 1 in market capitalization, with its stock price surging by 4.33%.
- Founder Jensen Huang emphasized growth opportunities in AI and robotics technology, positively impacting NVIDIA and the semiconductor industry.
The major indices of the New York stock market showed little change. In the absence of any significant developments, the indices, which had soared for two days, took a breather. However, NVIDIA regained its position as the world's No. 1 in market capitalization, driven by expectations that it will establish itself as a powerhouse not only in artificial intelligence (AI) but also in the robotics market.
On the 25th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average (DJIA) ended at 42,982.43, down 106.59 points (0.25%) from the previous session. The S&P 500 Index closed at 6,092.16, down 0.02 points (0%), while the NASDAQ Composite Index finished the session at 19,973.55, up 61.02 points (0.31%).
There were no major developments. It was influenced by the ceasefire temporarily ending the military conflict between Iran and Israel.
The sharp rebound of the stock indices over the past two days also added some pressure. The NASDAQ crossed above the 20,000 mark during the session, the first time since February 21.
Among individual stocks, NVIDIA surged 4.33%, and Google also rose more than 2%. Microsoft, Apple, and Broadcom all showed solid gains.
In particular, thanks to the surge, NVIDIA's market capitalization recorded $3.7651 trillion, regaining the top spot globally.
Jensen Huang, founder of NVIDIA, emphasized at the annual shareholders meeting that "Robotics technology, following AI, represents NVIDIA's next biggest growth opportunity," highlighting that there are still many opportunities for growth, which boosted the company's share price.
The strong performance of NVIDIA shares brought warmth to the related industry, with the Philadelphia Semiconductor Index jumping 1% as well.
In contrast, Tesla fell more than 3%, reportedly impacted by news that electric vehicle sales in Europe have declined for five consecutive months.
Shin Min-kyung, Hankyung.com reporter radio@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
