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As Wall Street ends Nvidia-fueled rally week, S&P 500, Dow hit fresh records today.

US stocks experienced a whirlwind of activity during the past week, marked by a mix of record highs and slight dips across major indices. Despite some fluctuations, the overall sentiment remained buoyant, fueled by significant developments in the market.

Leading the charge was Nvidia, the AI chipmaker, which delivered stellar earnings that sent shockwaves through Wall Street. Following Nvidia’s blowout performance, the company’s market value soared by an unprecedented $277 billion in a single day, making it the largest single-day gain in the history of Wall Street. As Nvidia’s shares continued to climb steadily throughout the week, the company edged closer to achieving a remarkable $2 trillion valuation.

However, amidst the excitement surrounding Nvidia, investors also turned their attention to the possibility of a US interest rate cut. Federal Reserve officials hinted at potential rate cuts in the future, although there was divergence in opinions regarding the timing of such measures. While the prospect of rate cuts provided some reassurance to investors, it also underscored the ongoing economic uncertainties and the need for cautious optimism.

Amidst these broader market dynamics, the fourth-quarter earnings season drew to a close, with a notable number of companies surpassing analysts’ expectations. One such standout was Block, a fintech company, which experienced a significant surge in its stock price following an upbeat earnings forecast. Additionally, Carvana, a prominent used-car seller, delighted investors with news of its first annual profit, leading to a substantial increase in its stock value.

Overall, the week showcased the volatile nature of the stock market, characterized by rapid fluctuations and significant milestones. Despite the occasional dips, the market remained resilient, driven by positive earnings reports, anticipation of potential policy changes, and ongoing investor optimism. As investors navigate these dynamic market conditions, they continue to monitor developments closely, seeking opportunities while exercising caution in the face of uncertainty.

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