S&P 500 erases 2025 losses as Nvidia surge leads tech rebound
By: bitcoin ethereum news|2025/05/14 12:00:12
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The S&P 500 climbed 1% on Tuesday, recovering all of its 2025 losses as investors cheered a string of favorable developments in tech, trade, and inflation. The Nasdaq Composite surged 1.6%, while the Dow Jones Industrial Average dropped 0.64%, weighed down by an 18% plunge in UnitedHealth shares after its CEO stepped down and the company suspended guidance. The rally was driven largely by a 6% gain in Nvidia, which crossed a $3 trillion market cap after news broke that it would ship 18,000 AI chips to Saudi Arabia. Other chipmakers, including Broadcom and AMD, jumped 4% each, riding momentum from renewed global demand and optimism over artificial intelligence. Adding fuel to the market rebound was a softer-than-expected Consumer Price Index reading for April. Inflation rose 2.3% year-over-year, slightly below economists’ expectations and marking the slowest annual pace since 2021. Bond traders adjusted expectations for interest rate cuts, now eyeing a September move by the Federal Reserve instead of June. Coinbase stock surged 23.97% today, rising $49.68 to close at $256.90. This came after Coinbase made history by becoming the first crypto company to join the S&P 500. Easing tensions with China Markets also reacted to the White House’s announcement of a $600 billion investment initiative and a 90-day tariff truce with China. The easing of geopolitical tensions contributed to a broader risk-on sentiment, lifting major tech stocks including Tesla (+5%) and Meta (+3%). Palantir jumped 9% following a $142 billion U.S.-Saudi defense deal, while Coinbase spiked over 18% on news of its inclusion in the S&P 500, signaling what analysts called a dramatic turnaround for the crypto industry under a more favorable regulatory climate. Source: https://crypto.news/sp-500-erases-2025-losses-as-nvidia-surge-leads-tech-rebound/
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