Nvidia's impressive financial performance adds to the strong results from Microsoft, Alphabet, Amazon, and Meta. These results reinforce the belief that the rally in the "magnificent five" continues,
Traders and investors liked a report by the U.S. Bureau of Labor Statistics before the market opening, which showed that both headline and core consumer inflation are easing.
Stretched valuations and diminished expectations of interest rate cuts make U.S equities vulnerable to sell-offs, David Bahnsen, chief investment officer of The Bahnsen Group, said.