Stocks Hold onto Gains as Market Strengthens
U.S. stocks are on the rise again as June proves to be a good month for the markets even with flaring trade war issues.
Quick overview
- June has seen positive growth in the stock market, with all three major indices posting gains for two consecutive days.
- Despite ongoing trade tensions between the U.S. and China, the market remains strong, with President Trump highlighting difficulties in trade negotiations.
- Nvidia has regained its position as the top company in global market share, with a market cap of $3.45 trillion following a 2.8% stock increase.
- The AI chip maker continues to thrive despite challenges, reporting a 69% revenue increase compared to the previous year.
June has been a good month for the stock market so far, with all three indices posting positive numbers for two consecutive days, marginally increasing as the market opens Wednesday.
The Dow Jones, Nasdaq Composite, and S&P 500 all ticked upward as the stock market opened on Wednesday, indicating that the market is strong despite the recent trade war disputes between China and the United States.
President Donald Trump called out Chinese President Xi Jinping on social media this week saying that he is very hard to make a deal with. The two countries are butting heads over alleged trade agreement violations and about how much they should be cutting their tariffs by in order to please the other country and to create parity. Trump says that trade talks with China have hit a roadblock.
Without that factor holding the stock market back, we would likely see greater gains, but the increase from day to day has helped pull investors back in.
Nvidia Regains its Spot
Nvidia (NVDA) took back the top spot from Microsoft (MSFT) in global market share. As Nvidia’s stock climbed Tuesday by 2.8%, the company saw its market cap go up to $3.45 trillion.
The AI chip maker has been embattled for the last few months, dealing with strict import regulations that prevent shipping many of its chips to China. They have also dealt with allegations from the Chinese government that they are operating a monopoly, and new competition has emerged to bite into their market share. Still, Nvidia is at the forefront of the rapidly growing AI market and has profited immensely from its position, bringing in 69% more revenue for its last quarter than it did at the same time last year.
As Wednesday trading commences, Nvidia stock has stayed even, holding onto most of its recent gains. The company’s resurgence to the top spot is helping to cement its place as one of the best performing stocks right now.
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