Nvidia trades to a new all-time high. AI euphoria continues. | Forexlive

Shares of Nvidia has reached a new all-time high of $422.76. That took out the high price from May 30 at $419.38. For the trading year, the prices now up 188.26%. The price closed 2022 at $146.14.

Shares of Apple are trading up $0.94 or 0.51% $184.21. That would represent a new all-time high close for the stock.

Adobe has been on a tear recently and is currently up $3.52 or 0.73% at $482.32. Yesterday the price spiked to a high of $491.51 before rotating back to the downside and closing at $478.99. That was still the highest close since February 2022. Adobe will announce their earnings tomorrow after the close. Traders seem to be looking for an Nvidia moment (recall the spike higher after their earnings and forward guidance). Shares are up 45.19% since May 12.

Microsoft is trading to a new high going back to December 2021. The high price today reached $339.03. That took out the previous high price of $338.90 reached on June 5.

Tesla shares are down for the 1st time in 14 trading days but trying to rebound. The price is still down around -$0.80 or -0.31% at $257.92. The low price reached $255.25

The Dow Industrial Average is still down on a day by -93 points or -0.27%. The S&P is up 18.47 points or 0.42% at 4387.89. The NASDAQ index is up 73.46 points or 0.54% at 13646.48. UnitedHealth is the big drag for the index. Its shares are down -7.24%. Of the 30 Dow stocks there only 7 stocks lower and 23 stocks higher. The biggest gain is Nike at up +5.12%. Intel continues its run to the upside with a gain of 2.26%.

The NASDAQ index is on a seven-week winning streak. This week the index is up 2.95% currently.

The S&P index is on a four-week winning streak. Its price is up 2.07%. The Dow industrial average is up 0.73% this week.

Needless to say the FOMC rate decision – and reaction to it – will be a key event. For the S&P index, it moved above the 61.8% retracement of the move down from the all-time 2022 high price this week. That level comes in at 4311.69. A move below the level would be needed to hurt the bullish bias.