Record NVIDIA rally follows $150B buyback and Morgan Stanley reinstatement
NVIDIA's stock soared to new highs this week, after Morgan Stanley reinstated NVIDIA as its top semiconductor pick and on the $150 billion buyback firepower announced Monday.
The Nasdaq jumped over 1.5% to a fresh record, while the S&P 500 rose 1%. The Dow lagged behind with just a 0.6% bump.
Market watchers like Jim Cramer say tech stocks, especially NVIDIA, are getting all the love right now.
NVIDIA rises, Boeing faces FAA uncertainty
NVIDIA's shares climbed more than 2.5%, helped by Morgan Stanley naming it its top pick after meeting with company leaders.
Over at Boeing, shares got a 3.35% lift after the company avoided a strike with its white-collar workers and landed a Navy jet contract, but there are still worries about uncertainty around the FAA's response to a flight landing software glitch, which could impact future deliveries and cash flow.