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May 24th Stock Market Update - Nvidia and AI stocks propel NASDAQ higher

May 24th Stock Market Update - Nvidia and AI stocks propel NASDAQ higher

$META $AMR $EBAY

Mukund Mohan
May 24, 2024

Market

“The NASDAQ index went up 1.1% on the back of Nvidia, Meta and AMD all getting over 2.5% on the day and over 15% for the week.” 😊 😋

Dow was down, but communications and tech sector drove NADAQ and S&P500

Ahead of the long weekend, most technology stocks went higher. Even the news that Google’s AI solution was giving out poor results did not deter the stock from higher highs.

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For the week, the reversal for the Dow after 2 weeks of highs was expected

Nvidia and Salesforce led the move higher, but most financials including large banks did well. Technology stocks performed the best for the week again, gaining over 1.6% for the week.