November 8, 2024

Nvidia Joins Dow as S&P 500 Eyes Best Week of the Year Post-Trump Rally

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Daily NVIDIA Corporation

In corporate news, Nvidia officially joined the Dow Jones Industrial Average on Friday, replacing Intel alongside Sherwin Williams. Nvidia’s stock has gained nearly 220% over the past year, underlining investor enthusiasm for chipmakers amid rising AI demand.

Elsewhere, Trump Media & Technology Group’s stock, DJT, fell 4.6% in premarket trading, continuing a decline after an initial election bump. Other earnings-related movements included Toast, which surged 14.2% on strong third-quarter results, while Pinterest and Airbnb saw steep losses due to weaker-than-expected guidance and earnings.

Additional earnings surprises came from Upstart, which beat revenue forecasts, and Lucid Group, which posted a smaller-than-expected loss and higher revenue. In contrast, Sweetgreen and Capri Holdings struggled, with both companies missing estimates and reporting weaker revenue.

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