Breaking: S&P 500 Hits New Record as Nvidia Soars on China Hopes

July 15 - The S&P 500 inched to a fresh record above 6,300, while the Nasdaq Composite climbed about 1%, and the Dow Jones Industrial Average lost 213 points (about 1%).

Nvidia NVDA led chip stocks higher, jumping more than 4.5% after saying it may soon resume shipments of its H20 GPUs to China. Advanced Micro Devices AMD surged about 7%, Broadcom AVGO climbed roughly 2% and Qualcomm (QCOM) rose near 1%.

Financial shares offered mixed signals. Wells Fargo WFC sank more than 4% after trimming net interest income guidance despite beating estimates, while Citigroup C added about 1% on stronger?than?expected quarterly results. JPMorgan Chase JPM edged lower despite solid trading and investment?banking revenue.

Investors now shift focus to the rest of second?quarter earnings, with the S&P 500's blended year?over?year profit growth poised to mark its slowest pace since late 2023.