Nvidia/ Alphabet/ Bitcoin/ Stock Market/ AI/ Cryptocurrency/ Financial News/ NEW YORK/ Newslooks/ J. Mansour/ Morning Edition/ U.S. stocks showed little movement Thursday, with Nvidia and Bitcoin rising while Alphabet’s shares fell after a major antitrust move by regulators. Nvidia’s strong earnings propelled it higher, while Alphabet slipped 3.8% as the DOJ called for the breakup of its Chrome browser business. The S&P 500 and Nasdaq edged up 0.1%, and Bitcoin soared past $98,000 amidst optimism about President-elect Donald Trump’s crypto policies.
Stock Market Highlights: Nvidia Gains, Alphabet Drops
- Nvidia’s Impact:
- Nvidia climbed 1.6% after exceeding revenue and profit expectations.
- The company’s strong AI-driven performance influences the S&P 500 heavily due to its $3.6 trillion market value.
- Alphabet’s Challenges:
- Alphabet fell 3.8% after the DOJ sought to break up its Chrome browser.
- Additional restrictions on Android could further challenge the tech giant.
- Bitcoin and Oil Surge:
- Bitcoin reached $98,000, fueled by pro-crypto policies from President-elect Trump.
- Crude oil rose 1.6% amidst heightened geopolitical tensions.
- Other Market Movers:
- Snowflake soared 28% after posting strong results tied to AI demand.
- BJ’s Wholesale Club rose 0.3%, counterbalancing Target’s recent sluggish report.
US Stocks Steady: Nvidia Climbs, Alphabet Drops & Bitcoin Surges
Deep Look: Nvidia, Alphabet, and Bitcoin Dominate Stock Market Narrative
The U.S. stock market remained mostly steady Thursday as tech leader Nvidia continued its impressive performance, while Alphabet faced regulatory scrutiny. Meanwhile, Bitcoin’s record-breaking surge added a layer of optimism in financial markets driven by emerging policies.
Nvidia’s Dominance
Nvidia rose 1.6% following a strong earnings report that exceeded expectations in revenue and profit, thanks to relentless demand for its AI chips. The company forecasted even higher revenue for the current quarter, pleasing investors despite initial after-hours volatility.
Wedbush analyst Dan Ives called Nvidia’s results “flawless,” crediting CEO Jensen Huang for maintaining the company’s dominance in the AI sector. Nvidia’s massive influence on the S&P 500 remains clear, as its stock has tripled in value this year, making it the largest publicly traded company by market cap at $3.6 trillion.
Alphabet Faces DOJ Action
While Nvidia thrived, Alphabet’s shares tumbled 3.8% after the U.S. Department of Justice called for sweeping penalties, including the breakup of its Chrome browser business. Regulators accused Alphabet of monopolistic practices, alleging that Chrome unfairly promotes Google’s search engine.
Though the DOJ stopped short of demanding Alphabet divest Android, it left the option open depending on future findings. Alphabet’s struggles weighed on other tech giants, with Apple, Amazon, and Meta also dipping by roughly 1%.
Bitcoin Breaks $98,000
The cryptocurrency market saw significant movement as Bitcoin surged past $98,000 for the first time, building on its momentum since Election Day. President-elect Donald Trump’s promise to make the U.S. the “crypto capital of the planet” and establish a strategic Bitcoin reserve has further bolstered investor sentiment.
Bitcoin has more than doubled in 2024, signaling renewed confidence in cryptocurrencies.
Oil Rises Amid Global Tensions
Crude oil prices climbed again, with benchmark U.S. crude up 1.6% and Brent crude, the global standard, rising 2%. The surge comes as geopolitical tensions escalate, particularly after Russia’s updated nuclear doctrine that lowers the threshold for using such weapons.
Other Market Highlights
- Retail Sector:
BJ’s Wholesale Club saw modest gains of 0.3% after reporting better-than-expected earnings, offsetting concerns raised by Target’s gloomy holiday forecast. - AI-Driven Stocks:
Snowflake soared 28%, benefiting from its growing role in AI applications. The company’s robust earnings reinforced investor interest in the broader AI market. - Global Stock Movements:
Adani Enterprises in India plunged 23% after its founder was charged with securities fraud in the U.S. Asian and European markets were mixed, reflecting uncertainty.
Looking Ahead
As Nvidia continues to lead the AI charge, Wall Street will monitor the company’s supply capabilities for its next-generation Blackwell GPUs, which are expected to face strong demand well into 2025. Meanwhile, Alphabet’s regulatory battles and Bitcoin’s historic rally promise to keep markets dynamic heading into the holiday season.
