Dow closes at a one-month high as investors broaden portfolios
What factors led to Nvidia's 6.68% slide?
Nvidia's 6.68% slide was primarily due to investors taking profits after the company's recent meteoric rise, which made it the world's most valuable company. This profit-taking came as investors rotated out of AI-linked stocks and added laggards to their portfolios, betting on Federal Reserve interest rate cuts this year.
How did oil prices influence the energy sector's performance?
Oil prices rose, spurring stronger fuel demand expectations, which positively impacted shares of energy and oil field services companies. This contributed to the energy sector being the top outperformer, advancing 2.73%.
What caused the Dow to reach a one-month high?
The Dow reached a one-month high as investors rotated out of AI-linked stocks and added laggards to their portfolios, betting on Federal Reserve interest rate cuts this year. The energy sector was the top outperformer, advancing 2.73%, while technology and the consumer discretionary sectors were the only two decliners among the 11 S&P 500 sector indexes.