US Stock Indexes Hit Record Highs Driven by Nvidia and Strong Earnings

Market Performance and Earnings Strength

• 📈 Wall Street's main indexes closed at record highs, with the Dow, S&P 500, and Nasdaq all posting gains.
• 💰 Strong third-quarter earnings are fueling the market, with S&P 500 companies' earnings estimated to have increased by 10.5% year-over-year.
• 📊 82% of the first 150 companies that reported earnings beat revenue expectations, a level not seen since 2001.
• ⚠️ Concerns about tariffs have largely not impacted the earnings picture, which is what the market is currently reflecting.

Nvidia's Significant Gains

• ⚡ Nvidia shares jumped 5% after announcing it will build AI supercomputers for the US Energy Department.
• 🤝 Nvidia is also investing $1 billion in Nokia, causing Nokia's shares to soar nearly 23%.

Microsoft and OpenAI Partnership

• 🤖 Microsoft shares rose 2% following a deal allowing OpenAI, the maker of ChatGPT, to restructure.
• 🏢 Under the new structure, Microsoft will own 27% of OpenAI as a public benefit corporation.

Upcoming Economic Events

• 🗓️ Microsoft, Meta Platforms, and Alphabet are scheduled to report quarterly earnings on Wednesday.
• 📉 The US Federal Reserve is also expected to announce an interest rate cut on Wednesday.