Stocks Gain as Tech Rally Spurs S&P Record

Wall Street traders defied calls for a breather after a $15 trillion stock rally from April lows, with Nvidia Corp. boosting optimism on artificial intelligence after pledging to invest as much as $100 billion in OpenAI. Tech led gains in the S&P 500, with the US equity benchmark hitting its 28th record this year. The world's largest chipmaker rallied about 4%. Its investment is intended to help OpenAI build data centers with a capacity of 10 gigawatts of power using Nvidia's advanced AI chips to train and deploy OpenAI's models. For a closer look at the market landscape, we hear from Michael Green, Chief Strategist at Simplify Asset Management.

Meanwhile, Asian stocks posted a modest gain at the open. Gauges in Australia and South Korea rose while equity-index futures for Hong Kong — facing its most damaging typhoon since 2018 — were flat. For more on markets, we get the views of Daniel Lam, Head of Equity Strategy at Standard Chartered Wealth Solutions. He speaks with Bloomberg's Shery Ahn and Avril Hong on The Asia Trade.

See omnystudio.com/listener for privacy information.