In a photo finish before the start of the Memorial Day Weekend, the three major averages (^DJI, ^IXIC, ^GSPC) close out Friday in the green, the Dow Jones Industrial Average just eking out a minute gain above its flatline while the Nasdaq Composite reaches a record high.
Market Domination Overtime Hosts Julie Hyman and Jared Blikre review this week’s market performances and discuss whether Nvidia’s (NVDA) fiscal first-quarter earnings results turned out to be as big of a stock market driver as expected.
Catch Yahoo Finance’s exclusive interview with Nvidia CEO Jensen Huang after the chip giant reported earnings on Wednesday.
For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.
This post was written by Luke Carberry Mogan.
Video Transcript
You look at the major averages here, all of them finishing in the green.
Although I guess we’ll wait for things to settle out.
The Dow.
It’s really kind of a photo finish there up just four points on the day.
The S and P 500 up 7/10 of 1%.
The NASDAQ, the winner here and the winner of the week for that matter up, uh 1.1% helped in part by those results from NVIDIA and the momentum that we’ve seen in technology and, uh, Jared, it has been an interesting week, right?
Because we thought, you know, NVIDIA was the event of the week, but it really didn’t.
There’s so much more, it didn’t, well, and it didn’t really have much of a ripple effect as much as people might have anticipated.
Well, I think the, the big thing for me was that NVIDIA was not enough to, it was not enough to buoy the, the all market we saw the S and P 500 put in a nasty red candle.
The Dow was terrible.
Now, that’s a Boeing story.
But you also saw Goldman Sachs and Sales Force.
So, are there some underlying currents in the market, the market was reacting to some economic data that came in hotter than expected.
So arguably, you know, the economic da data was kind of front seat and NVIDIA was a bit of a back seat, but, you know, they cleared the hurdle.
So I think that was a big thing.
Exactly.
And I know you’re looking at some of the groups here and what we saw for the week with Energy Energy was did bad on the Wi Fi Interactive Energy down 3.8%.
So is real estate a very similar amount.
And then tech and communication services the only spot at green there.
And by the way, just heard that the NA the NASDAQ closed at a record again.
So it explains there that you’ve got those two groups that are the most heavily weighted in the NASDAQ that are doing the best.
Yes.
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