Equity Alert
S&P 500 hits record high; Nvidia futures fall despite Q2 beat
This story was originally published at 08:06 IST on 28 August 2025
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Equity Alert: S&P 500 hits record high; Nvidia futures fall despite Q2 beat
MUMBAI--0759 IST--The US market closed higher Wednesday, with the S&P 500 hitting a fresh record high, ahead of Nvidia's quarterly earnings, seen as a crucial trigger for the ongoing bull market. The S&P 500 gained 0.2% to close at an all-time high of 6,481.40 points, while the Dow rose 0.3%. The Nasdaq Composite ended 0.2% higher.
Shares of Nvidia, which carry the heaviest weight in the S&P 500 at nearly 8%, were little changed. The technology major reported its numbers after market hours, with both its bottom line and top line beating Wall Street's estimates. However, the stock's futures were down 3% post the earnings. "My takeaway is that these (Nvidia) numbers are not unexpected, nor is this reaction...the market has begun to factor in that Nvidia can continue to beat most expectations in spite of headwinds and questions like what they will have to pay to continue selling to China," Reuters reported Nick Frasse, product manager at Vaneck Associates, as saying.
Investors also digested political developments in Washington, where US President Donald Trump's unprecedented removal of Federal Reserve Governor Lisa Cook continued to draw scrutiny. Top White House economic adviser Kevin Hassett said Cook should take leave, even as she readied a lawsuit challenging her dismissal. Despite the turmoil, markets have largely looked past the controversy.
Following are the closing levels of US indices overnight:
| INDEX | LAST LEVEL | CHANGE IN % |
| Dow Jones Industrial Average | 45565.23 | 0.32 |
| NASDAQ Composite | 21590.14.29 | 0.22 |
| S&P 500 | 6481.40 | 0.2 |
(P. Madhu Kumar)
US$1 = INR 87.68
End
Edited by Avishek Dutta
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