Tech Titans Triumph: NVIDIA Leads S&P 500 Recovery Amidst Mixed Market Signals

On May 13th, U.S. stock markets closed with mixed results. The Nasdaq saw a rise of 301.74 points, increasing by 1.61%, while the S&P 500 climbed 0.72%. The Dow Jones, however, fell by 0.64%. Remarkably, the S&P 500 managed to recover its losses from earlier this year, driven significantly by the performance of technology stocks.

NVIDIA shares jumped to $129.93, marking a rise of 5.63% and boosting its market capitalization to $3.17 trillion. This increase reflects a single-day market value surge of $169.1 billion. Tesla also gained nearly 5%, reaching its highest closure since February 24th.

Other prominent tech stocks boosted the market trend; Netflix and Meta climbed above 2%, while Apple, Amazon, and Intel saw increases of over 1%. Google experienced a smaller rise, whereas Microsoft recorded a slight decrease.

Despite positive movements in U.S. tech stocks, Chinese stocks listed on American exchanges experienced declines. The Nasdaq Golden Dragon China Index fell by 0.07%. Companies such as Pony.ai and WeRide registered significant drops, alongside other firms like Bilibili and TAL Education Group falling over 2%.

Overall, the day's trading depicted an optimistic outlook for the U.S. tech sector, helping the S&P 500 index erase its year-to-date losses. NVIDIA's standout performance and resilience in other major technology stocks have underscored investor confidence amidst broader economic uncertainties.