Trending tickers: Nvidia, LVMH, Goldman Sachs, Trump Media and Coinbase
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Nvidia (NVDA)
Chipmaker Nvidia closed at a record high on Monday, with shares rising 2.4% to end the session above $138.
The stock previously recorded a record closing price of $135.58 in June. This latest gain in the share price has given Nvidia a market valuation of nearly $3.4tn (￡2.6tn.), making it poised to potentially overtake Apple (AAPL) – which has a market capitalisation of $3.5tn – as the world's most valuable company.
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Nvidia is considered to be a major beneficiary of the artificial intelligence (AI) boom, with the company saying last week that its Blackwell AI chips had already sold out for the next 12 months.
Meanwhile, electronic manufacturer Foxconn announced that it was building a megafactory in Mexico to produce the Blackwell chips. The two companies said they were also teaming up to build Taiwan's largest supercomputer.
In addition, Wall Street analysts reiterated their buy ratings on Nvidia shares.
Nvidia's rise on Monday helped drive the S&P 500 (^GSPC) higher, with the index also notching another record high, having climbed nearly 0.8% to close at around 5,860.
LVMH (MC.PA)
French luxury group LVMH (MC.PA) is set to release its third-quarter revenue after the close of the Paris market on Tuesday.
Shares have slumped 14% year-to-date, as a tough economic backdrop has seen consumers rein in luxury spending. In the first half of the year, LVMH said revenues had dipped 1% to €41.7bn (￡34.8bn), versus the same period last year.
The latest fall in the stock last week came after China decided to impose tariffs of as much as 39% on imports of European brandy, which took effect from Friday 11 October. This impacted the shares of French companies, including LVMH, which owns the cognac brand Hennessy.
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However, Aarin Chiekrie, equity analyst at Hargreaves Lansdown, said that the recent announcement of Chinese economic stimulus measures had brought a "fresh jolt of optimism around the outlook for LVMH".
"While it’s too early to tell if the Chinese stimulus package will help lead to a sustained economic recovery, investors will be keen to see if it’s enough to shift full-year sales guidance higher when LVMH releases its third-quarter update," he said.
Goldman Sachs (GS)
Major US banks set the earnings season off to a strong start on Friday, reporting results that beat market expectations, with attention now turning to Goldman Sachs.