US Stock Market Rallies as Nvidia Unveils New Chip
The US stock market indices closed higher on Monday, with the S&P 500 rising 0.3%, the Nasdaq 100 increasing by 0.6%, and the Dow Jones Industrial Average gaining 0.1%. This marks the eighth consecutive session of gains for the S&P 500.
Nvidia's unveiling of a new chip for personal computers, called the 'RTX Spark', contributed to the rally in software stocks. The company's CEO, Jensen Huang, emphasized that artificial intelligence will not replace software developers or render software companies obsolete.
President Trump's positive commentary on the US-Iran talks and his statement that he doesn't care about negotiations with Iran also supported the market. However, Iranian state media reported that the country's negotiators are stopping communication with the US due to Israeli attacks on Lebanon.