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Key Takeaways
- Major U.S. stock indexes were slightly higher at midday Tuesday, as U.S.-traded shares of Chinese companies rose after Beijing unveiled a stimulus package to boost China's economy.
- Nvidia shares climbed as Morgan Stanley analysts said the chipmaker is seeing strong demand for its Hopper and Blackwell GPUs.
- Shares of Freeport-McMoRan, Newmont, and other gold miners gained as the price of gold hit another record high.
Major U.S. stock indexes were slightly higher at midday Tuesday after China announced a new stimulus package to boost China's economy. The S&P 500 and Dow climbed to record highs, while the Nasdaq was also in the green.
U.S.-traded shares of Chinese companies and shares of U.S.-based companies with significant exposure to China surged, with Caterpillar ( CAT ) leading gains in the Dow. Las Vegas Sands ( LVS ) and Wynn Resorts ( WYNN ) were also higher.
Shares of Freeport-McMoRan ( FCX ), Newmont ( NEM ), and other gold miners advanced as the precious metal hit another all-time high.
Shares of artificial intelligence darling Nvidia ( NVDA ) also climbed as Morgan Stanley analysts said the chipmaker is seeing strong demand for its Hopper and Blackwell GPUs .
Visa ( V ) shares slumped on reports U.S. regulators will file a lawsuit against the credit card company, accusing it of hurting consumers by monopolizing payment processing technology. Shares of other credit card providers dropped as well.
Shares of Regeneron Pharmaceuticals ( REGN ) lost ground after a federal judge ruled against the biotech firm’s claim that Amgen ( AMGN ) infringed on the patent for its Eylea eye treatment. Amgen shares were lower as well.
Oil futures climbed and the yield on the 10-year Treasury note rose. The U.S. dollar gained versus the yen, but fell to the euro and pound. Most major cryptocurrencies were lower.
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