S&P 500 Hits Record as Nvidia Surge Offsets Oil Spike
SkimNews Take
The market's ability to absorb an oil price surge and still reach record highs suggests a significant decoupling of tech sector performance from traditional energy cost concerns.
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- S&P 500 closed at a record high to start June trading, buoyed by a tech rally.
- Dow hit a record high as part of the broader market rally.
- Nasdaq reached a record high, extending its 12‑day winning streak.
- Nvidia shares surged, driving the tech rally that helped offset an oil price spike.
- US‑Iran optimism returned, supporting market confidence amid earlier geopolitical jitters.
Why it matters: Tech investors reap gains as Nvidia’s surge pushes the S&P 500 to a record close, while the Nasdaq’s 12‑day winning streak underscores sustained momentum for growth stocks.
