The stock market experienced gains as the Dow Jones futures rose, with investors eagerly awaiting speeches from Federal Reserve Chairman Jerome Powell. Nvidia, the chipmaker, received a boost after a price-target hike.
As the market prepared for economic data releases and the start of a new earnings season, major banks were expected to report their quarterly results. Various stocks, including Carvana, Meta Platforms, and Monday.com, garnered attention in the current stock market climate.
Investors are closely monitoring the performance of tech giants like Tesla and Palantir, as well as the upcoming testimony of Fed chief Jerome Powell and the release of inflation data, which are key factors influencing the market's direction.
While the stock market has reached new highs, concerns about overbought stocks, a potential pullback, and the dominance of a few large tech companies persist. However, analysts remain optimistic about the prospects of chipmaker Nvidia, as demand for their AI platform and upcoming Blackwell series processors continues to be robust.
