Wall Street Hits Fresh Records as Nvidia Leads Tech Rally

CNBC reported Monday that all three major US indexes notched simultaneous intraday and closing record highs, capping a session driven by renewed enthusiasm around artificial intelligence and a standout earnings report from Hewlett Packard Enterprise.

Tech Sector Carries Wall Street to New Peaks

The S&P 500 rose 0.26% on the day, while the Nasdaq Composite gained 0.42%. The Dow Jones Industrial Average added roughly 46 points, a gain of about 0.09%. Every index set a fresh closing record. After the bell, however, futures pulled back modestly. S&P 500 futures fell 0.2%, Nasdaq 100 futures declined 0.3%, and Dow futures dropped around 109 points.

The session’s standout mover was Nvidia, whose unveiling of a new PC-oriented chip helped lift the broader technology sector. Chipmaker Microchip Technology jumped 12% in after-hours trading after disclosing revenue figures for its data center business unit.

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HPE Posts Biggest Earnings Beat in Eight Years

Shares of Hewlett Packard Enterprise surged roughly 27% in extended trading. The company’s fiscal second-quarter adjusted earnings of 79 cents per share significantly exceeded the 53-cent consensus estimate compiled by LSEG. Revenue of $10.68 billion also cleared the $9.79 billion forecast, representing a 40% year-over-year increase. HPE also lifted its full-year earnings guidance above Street expectations. CNBC noted it was the company’s largest earnings beat since early 2018.

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Nine Weeks of Gains Raise Overheating Questions

The broader rally has now extended to nine consecutive weekly advances for the S&P 500. Katie Stockton, founder of Fairlead Strategies, told CNBC’s Closing Bell that momentum remains positive across short, intermediate, and long-term timeframes. She pointed to a series of flag-pattern breakouts as evidence the uptrend remains intact. Stockton cautioned, though, that such sharp run-ups tend to resolve violently when they do reverse. She said no confirmed sell signals from her overbought-oversold metrics have emerged yet.

Iran Tensions Add Overnight Uncertainty

Oil prices moved higher Monday after Iranian state media signaled that negotiators would halt indirect communications with Washington. Reports from Iran’s Tasnim outlet also suggested Tehran could move to block the Strait of Hormuz. President Donald Trump told CNBC he was unconcerned if Iran talks collapsed, though he later posted on Truth Social that discussions were continuing “at a rapid pace.” The conflicting signals added a cautious tone to overnight futures. Traders will also monitor Tuesday’s JOLTS job openings data for April.

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