{"id":2176274,"date":"2024-02-14T15:25:02","date_gmt":"2024-02-14T20:25:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-street-climbs-lifted-by-uber-lyft-and-nvidia\/"},"modified":"2024-02-14T15:31:23","modified_gmt":"2024-02-14T20:31:23","slug":"wall-street-climbs-lifted-by-uber-lyft-and-nvidia","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-street-climbs-lifted-by-uber-lyft-and-nvidia\/","title":{"rendered":"Uber, Lyft, and Nvidia drive Wall Street higher"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwall-street-climbs-lifted-by-uber-lyft-and-nvidia%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2176274&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<p><strong>February 14, 2024 \u2013 11:31 AM PST<\/strong><\/p>\n<p>(Reuters) \u2013 Wall Street soared today as ride-hailing giants Lyft and Uber experienced a remarkable rally, while \u200dNvidia briefly surpassed Alphabet\u2063 to become the \u2062third \u2063most valuable company in the U.S. stock\u200d market.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Nvidia\u00a0(NVDA.O)\u00a0surpassed Alphabet\u2019s\u00a0(GOOGL.O)\u00a0market capitalization\u00a0ahead\u200b of the \u200bdominant AI chipmaker\u2019s highly anticipated quarterly results next \u2062week. Nvidia\u2019s shares saw a 1.3% increase, while the \u2064Google-parent added 0.1%.<\/p>\n<p>Uber\u00a0(UBER.N) experienced a staggering surge of \u2062almost 12% and \u200creached a record high, fueled by \u2062a $7 billion\u00a0share buyback plan.<\/p>\n<p>Lyft\u00a0(LYFT.O)\u00a0soared over 30%\u2062 after surpassing profit estimates and announcing its plans to generate positive free cash flow for the \u200bfirst time in 2024.<\/p>\n<p>Contributing to the \u200crise of \u2063the S&#038;P 500, Meta Platforms\u00a0(META.O)\u00a0rose by 2.1%\u2064 and \u2062Tesla\u00a0(TSLA.O)\u00a0added 1.2%.<\/p>\n<p>Yesterday, Wall Street\u200d indexes experienced a significant drop, reaching over one-week lows, with the Dow\u00a0(.DJI)\u00a0posting its worst day in 11 months. This was triggered by data revealing that core consumer prices in January remained\u200b nearly double the\u2063 Fed&#8217;s 2% target, leading \u200dinvestors to reassess their rate cut expectations.<\/p>\n<p>\u201cRegardless \u2062of\u2062 when that first cut is, I think the market should \u200dfear what the Fed fears. What the Fed fears \u200bis cutting too\u200b soon and having to raise rates. \u2063That would be catastrophic for this rally,\u201d said Jake Dollarhide, Chief Executive Officer \u200dof Longbow Asset Management in Tulsa, Oklahoma.<\/p>\n<p>Providing some relief, Chicago \u200cFed President Austan Goolsbee\u200b stated that\u200d the path back\u2064 to the central bank\u2019s 2% inflation target would still be on\u200d track, even if price increases run slightly hotter-than-expected over the next few months.<\/p>\n<p>Expectations \u2064of a Fed \u2063interest rate cut this year have fueled a recent rally \u200bon Wall Street, propelling the S&#038;P 500 to \u200brecord highs.<\/p>\n<p>According to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-likely-to-boost-interest-rates-0-75-this-week\/\" title=\"Federal Reserve Likely to Boost Interest Rates 0.75% This Week\">interest rate futures<\/a>, traders mostly anticipate \u2063the Fed to begin cutting rates by its June policy meeting, as indicated by the CME FedWatch tool.<\/p>\n<p>Out of the 11 \u2062S&#038;P 500 sector indexes, nine experienced gains, with industrials\u00a0(.SPLRCI) leading the way with a 1.3% increase, followed\u2063 by a 0.91% \u200dgain in communication services\u00a0(.SPLRCL).<\/p>\n<p>The S&#038;P 500 reached 4,979.83\u200d points, marking a\u200c 0.54% increase.<\/p>\n<p>The Nasdaq gained 0.83% and\u200c reached 15,785.76 points, while\u200d the Dow\u2063 Jones\u200c Industrial\u200b Average saw a 0.12% increase, reaching 38,318.97 points.<\/p>\n<p>The small-caps Russell 2000 index\u00a0(.RUT)\u00a0jumped by 1.9%.<\/p>\n<p>Robinhood Markets\u00a0(HOOD.O)\u00a0soared over 10% following a surprising fourth-quarter profit.<\/p>\n<p>Crypto stocks Coinbase\u00a0(COIN.O), Marathon Digital\u00a0(MARA.O), and Riot\u00a0(RIOT.O)\u00a0experienced surges\u2064 of \u2064over \u200d10% as bitcoin&#8217;s market value crossed $1 trillion\u2064 for the first time since November 21.<\/p>\n<p>Advancing issues outnumbered falling ones within the S&#038;P 500\u00a0(.AD.SPX)\u00a0by\u200c a ratio of 2.7-to-one.<\/p>\n<p>The S&#038;P\u2063 500 recorded 29 new highs and 3 \u2062new lows, while the Nasdaq recorded 69\u200d new highs and 64 new lows.<\/p>\n<p><sup>Reporting by Johann M Cherian and \u200cAnkika Biswas in Bengaluru, and by Noel Randewich in Oakland,\u200d Calif.; Editing by Arun Koyyur, Maju Samuel, and Aurora Ellis<\/sup><\/p>\n<\/p>\n<div id=\"rc-widget-10bad2\" data-rc-widget data-widget-host=\"habitat\" data-endpoint=\"\/\/trends.revcontent.com\" data-widget-id=\"278641\"><\/div>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\"> \t\t \t\tShare this post!\t<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Israel\u2064 is\u2063 gearing\u200c up for a ground operation in Rafah, despite Jordanian King Abdullah&#8217;s warning to President Biden about the potential consequences.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>The Deep\u2063 State&#8217;s orchestration of \u200cthe \u200bRussia Collusion hoax is publicly exposed, raising concerns about the repercussions for Hunter Biden&#8217;s involvement with China. Additionally, New Yorkers\u200c vote to\u2062 replace George Santos.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>A Congressional investigation unveils the extent of\u200c collaboration between the U.S. Government and private banks in illegally spying on the American people.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>The House Oversight Committee shares the Biden Administration&#8217;s \u200dactions \u200bregarding the \u2062border crisis since Joe Biden assumed office.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Nvidia briefly surpasses Alphabet as the \u200dthird most valuable company in the\u200c U.S. stock market.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Hackers from Russia, China, and Iran exploit tools from OpenAI to enhance their skills\u2062 and deceive their targets.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Nvidia briefly surpasses Amazon.com Inc in\u2064 market capitalization on Monday.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Nvidia is establishing a new business unit dedicated to designing customized chips for \u200ccloud computing firms and other entities.<\/strong><\/p>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> How significant is Nvidia&#8217;s brief surpassing of\u200c Alphabet in market capitalization?<\/h2>\n<p><span>  The \u200dWall Street rally continued today as Lyft and Uber experienced impressive surges, and Nvidia briefly overtook Alphabet\u2064 to\u200b become the third \u200bmost valuable company in \u2064the U.S. stock\u2062 market. This comes\u200b ahead of Nvidia&#8217;s highly anticipated quarterly results. Uber \u200bsaw a staggering \u200d12% increase,\u200b reaching a record high, fueled by a $7 billion share buyback \u2063plan.\u200d Lyft also\u2064 soared over 30%\u200b after exceeding profit estimates and announcing plans to generate positive free cash flow in 2024.<\/p>\n<p>Nvidia&#8217;s rise in\u200d market capitalization is significant as \u2062it surpassed Alphabet, the parent company of Google. Nvidia&#8217;s\u200c shares saw a 1.3% increase, while Alphabet&#8217;s \u200dshares added 0.1%. This development \u200dcomes\u2064 just before \u2063Nvidia&#8217;s quarterly results, which are highly anticipated by investors.<\/p>\n<p>Uber&#8217;s remarkable\u2062 surge can be \u2062attributed to its announcement of a $7 billion share buyback plan.\u2062 This move has instilled confidence\u200c in investors and has led to\u200b a \u200dsurge in the company&#8217;s stock price. The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/analysis-dont-let-them-fool-you-the-democrats-are-fighting-quicksand-despite-recent-wins\/\" title=\"ANALYSIS: Don\u2019t Let Them Fool You. The Democrats Are Fighting Quicksand Despite Recent Wins\">record-breaking high reached<\/a> by Uber demonstrates the strong market demand for \u2064<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/transport-locked-down-in-chinas-shanghai-as-asymptomatic-covid-cases-surge\/\" title=\"Transport locked down in China\u2019s Shanghai as asymptomatic COVID cases surge\">ride-hailing services<\/a>.<\/p>\n<p>Similarly, Lyft&#8217;s stock \u200bexperienced\u2063 a significant increase of \u200bover 30% after surpassing profit estimates and announcing plans to generate positive free\u200b cash\u200d flow in 2024. This positive news has fueled investors&#8217;\u200d optimism about the future prospects of \u200dthe company.<\/p>\n<p>Contributing to the rise of \u2064the S&#038;P 500, Meta Platforms rose by 2.1% and Tesla added 1.2%. These companies&#8217; positive performance has \u200bfurther\u2064 strengthened the overall market sentiment.<\/p>\n<p>Yesterday,\u2062 Wall Street indexes experienced a significant\u200d drop, reaching over one-week lows. \u2062The Dow posted its worst day in\u200c 11 months. This decline was triggered by data revealing\u200d that core consumer prices in January remained nearly\u200b double the Federal Reserve&#8217;s 2%\u200c target. This led investors to reassess their \u2062rate cut\u200d expectations and resulted in a\u2064 temporary downturn in the market.<\/p>\n<p>The Federal \u2063Reserve&#8217;s cautious \u200bapproach to interest \u200drate cuts reflects its\u2063 concern about cutting rates too\u200b soon\u2063 and potentially having to raise\u200d rates in the future. This cautious approach is shared by market\u200b analysts who believe that raising rates prematurely could\u200c have catastrophic consequences\u200b for\u2064 the current market rally.<\/p>\n<p>However, some relief was provided by Chicago Fed President\u200b Austan Goolsbee, who stated that \u200cthe path back\u200d to the\u2064 central bank&#8217;s 2% inflation target would still be on track, \u200deven if price \u200cincreases run\u200b slightly hotter-than-expected over\u200d the\u200c next\u2062 few months. This statement reassured\u2062 investors and helped stabilize market sentiment.<\/p>\n<p>The expectation of a Fed interest rate cut this year has fueled a recent rally on \u200bWall Street, \u2062propelling the S&#038;P 500 to record \u2064highs.\u2063 According to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-street-ends-mixed-after-job-openings-hint-at-cooling-economy\/\" title=\"Mixed close for Wall Street as job openings suggest slowing economy\">interest\u2063 rate futures<\/a>, traders mostly anticipate the Fed to begin\u2062 cutting rates by its June policy meeting.<\/p>\n<p>In terms of\u2063 sector performance, nine out \u200dof the 11 \u2063S&#038;P 500 sector indexes experienced gains, with industrials leading the way with a 1.3% increase,\u2063 followed by a 0.91% \u200cgain in communication services.\u200b This widespread growth across\u2063 sectors indicates a positive market sentiment and\u2062 confidence in the overall economy.<\/p>\n<p>The S&#038;P 500 reached 4,979.83 points, marking a 0.54% increase. The Nasdaq gained 0.83% and reached \u200b15,785.76 points, while the Dow Jones Industrial Average saw a 0.12% increase, reaching 38,318.97 points. The small-caps Russell 2000 index jumped by 1.9%.<\/p>\n<p>In other news,\u2063 Robinhood Markets saw a \u2064surge of over 10% following a\u2063 surprising fourth-quarter profit. Additionally, crypto stocks Coinbase, Marathon Digital, and Riot experienced surges of over \u206410% as bitcoin&#8217;s market value crossed $1 trillion for the first time since November\u2063 21.<\/p>\n<p>The \u200bmarket&#8217;s overall performance today\u200b was positive,\u2063 with advancing issues outnumbering falling ones within the S&#038;P 500 by a ratio\u200b of 2.7-to-one.\u2064 The S&#038;P \u200c500 recorded 29 new highs and 3 new lows, while the Nasdaq \u200brecorded 69 new highs and 64 new lows.<\/p>\n<p>In\u200c conclusion, today&#8217;s Wall Street rally was driven by impressive performances from Lyft and \u2063Uber, as well as\u2062 Nvidia&#8217;s brief surpassing of Alphabet in \u2063market capitalization. This \u2063positive market sentiment was further strengthened \u200bby the gains in Meta Platforms and Tesla. Despite a temporary downturn yesterday, the \u200cmarket demonstrated resilience and recovered \u2063today. The expectation\u2064 of\u200c a\u2062 Fed interest rate cut and positive \u200cremarks from Fed officials \u2062contributed to the overall positive market sentiment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On February 14, 2024, Wall Street saw a rise with Lyft and Uber gaining momentum. Nvidia briefly surpassed Alphabet as the third most valuable company in the US stock market. Nvidia&#8217;s shares increased by 1.3% ahead of their upcoming quarterly results, solidifying their position as a dominant AI chipmaker<\/p>\n","protected":false},"author":1911,"featured_media":2176275,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/c3.oann.com\/wp-content\/uploads\/2024\/01\/6KZ6L7IIDVOHBNKAMZHXMVHE2I.webp","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2176274","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/c3.oann.com\/wp-content\/uploads\/2024\/01\/6KZ6L7IIDVOHBNKAMZHXMVHE2I.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2176274","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1911"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2176274"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2176274\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2176275"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2176274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2176274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2176274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}