Nasdaq hits record high boosted by NVIDIA's China chip sales
The Nasdaq just closed at a fresh record, mostly thanks to NVIDIA jumping 4% after announcing it will start selling its H20 AI chips to China again.
This marks the fourth record close in five sessions for the index.
The news also gave a nice boost to Advanced Micro Devices and Super Micro Computer, both up more than 6.4%.
NVIDIA's update boosts semiconductor and S&P tech indices by 1.3%
NVIDIA's update lifted semiconductor and S&P tech indices by 1.3%, putting them at their highest point this year.
But not everything was rosy—while tech soared, the Dow Jones and S&P 500 actually dropped as inflation data showed prices rising faster than expected in June.
Bank stocks were mixed as earnings season kicked off, with Citigroup up but other big banks down, showing investors are still a bit cautious right now.