The S&P 500 briefly passed the 5,500 mark for the first time before ending the session lower. The Nasdaq Composite dipped as Nvidia ran out of steam.
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribeU.S. oil pricesin a late-stage trial. None of the nearly 2,000 women who got the lenacapavir shot in the trial had contracted HIV, an interim analysis showed.
France is among the seven countries breaching the deficit limit, potentially hindering spending plans of Marine Le Pen's party. Le Pen, leading in polls, has pledged to cut VAT on essentials and lower the pension age. France's budget gap isis projected to rise to $1.92 trillion this year, or 7% of GDP, according to the Congressional Budget Office, the independent fiscal watchdog for lawmakers. This marks a 27% increase over February's forecast.
"Markets seem to ignore for a very long time it until they don't ... At some point, the markets are going to wake up and dislike this. It's going to dramatically affect Treasury financing.", they're showing signs of fatigue. Nvidia fell from an all-time high, dragging down the S&P 500 and Nasdaq. Interestingly, JP Morgan believes the bull run has been driven by
"One support for the U.S. equity market over the past year emanated from a decline in the short interest on the two biggest equity ETFs," thethat tracks the performance of the Nasdaq-100 index, strategists led by Nikolaos Panigirtzoglou wrote."This short interest has been declining in a rather steady manner since the second quarter of 2023 making successive record lows," they said.
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