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Wall Street was upbeat Tuesday, with Dow Jones Industrial Average rising more than 150 points and S&P 500 and Nasdaq jumping to record highs as Nvidia and a Microsoft-OpenAI deal boosted US stocks.\u00a0<\/p>\n
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With the Federal Reserve interest rate decision expected on Oct. 29, sentiment across risk assets ticked up, and the Dow Jones Industrial Average showed this by surging more than 150 points ahead of markets close. The benchmark index S&P 500 also gained, trading 0.4% up as it hovered above 6,800, while tech-heavy Nasdaq Composite inched higher by 0.8%.\u00a0<\/p>\n
The gains on Tuesday followed Monday\u2019s uptick that materialized amid investor reaction to a potential U.S.-China trade deal. Wall Street held the same outlook as stocks edged towards another bullish close, with the major gauges hovering at all-time highs.<\/p>\n
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Nvidia, Microsoft and Apple were all up as Wall Street\u2019s upbeat mood had the three major indexes at record highs. The gains for the megacap tech stocks came amid key developments across the ecosystem.\u00a0<\/p>\n
Nvidia aided the positive sentiment as the AI chipmaker\u2019s chief executive officer Jensen Huang highlighted a \u201cturn a corner\u201d outlook for the company. A mega $1 billion stake in Nokia<\/a> also fueled intraday gains, with NVDA rising more than 3%<\/p>\n Microsoft shares also popped more than 2% as the market reacted to news<\/a> of a Microsoft-OpenAI deal that could see the flagship AI startup pivot to a public benefit corporation. <\/p>\n