Stocks saw gains on Monday as Wall Street turned its attention to a major artificial intelligence conference and awaited new guidance on monetary policy from the Federal Reserve.
The Dow Jones Industrial Average rose by 0.2%, or 75.66 points, closing at 38,790.43. The S&P 500 also experienced an increase of 0.63%, or 32.33 points, ending the day at 5,149.42. The Nasdaq Composite saw a gain of 0.82%, finishing at 16,103.45.
Nvidia shares saw a 0.7% increase on the first day of the company’s GTC Conference, where the chipmaker is set to present its latest advancements in artificial intelligence.
Analysts raised their price targets as the conference kicked off, with Truist’s William Stein foreseeing a 34% upside potential. The stock surged by as much as 4% in early trading on Monday.
Alphabet shares closed 4.6% higher following a report by Bloomberg News that Apple and Google were discussing the inclusion of Google’s Gemini AI in iPhones.
Source (CNBC)
