NVIDIA CEO Jensen Huang and U.S. President Donald Trump shake hands at an ‘Investing in America’ event in Washington, D.C., U.S., April 30, 2025.
- The S&P 500 and Nasdaq Composite rose on Wednesday, but the Dow Jones Industrial Average fell.
- Nvidia shares are back in positive territory for the year after climbing 4% on Wednesday.
- Boeing and Qatar Airways announced a deal for the Middle Eastern airline to buy up to 210 jets.
- U.S. President Donald Trump gave a speech at U.S.-Saudi Investment Forum praising Saudi Arabia and its crown prince.
- Klarna CEO Sebastian Siemiatkowski told C온라인카지노사이트 the company has cut its workforce “from about 5,000 to now almost 3,000 employees."
- Steve Cohen, founder of investment firm Point72, said he thinks stocks could “go back toward the lows” in April.
The "Magnificent Seven" group of stocks — comprising , , , , , and — drove much of the .
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They have also been some of the hardest stocks hit by U.S. President Donald Trump's tariffs. Those that rely heavily on global supply chains and export markets, such as Apple and Nvidia, suffered the most. By contrast, Meta and Microsoft, which derive more of their revenue from digital services, such as ad sales or enterprise software, actually saw their shares head upward this year.
On Wednesday, Nvidia joined Meta and Microsoft to become the third member of the Magnificent Seven to trade in the green year to date. It's a significant move because the chipmaker — as the word suggests — doesn't deal in intangible products that can slip through trade barriers.
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Nvidia's recovery suggests that dealmaking under Trump — in terms of tariff agreements and broad bilateral ties, such as those he is forging with Saudi Arabia on his state visit — is providing businesses with a better environment. But it also emphasizes how volatile the market can be this year, when the engine behind 2024's blistering rally can sputter out within the weeks surrounding Trump's "Liberation Day."
What you need to know today
Three-day winning streak for S&P 500
. The ticked up 0.1% and the rose 0.72%. The tech-heavy index was lifted by a 4.7% rise in shares after the chip company announced as well as a jump in Nvidia shares. The lost 0.21%. The pan-European dipped 0.24%, ending its four-day winning streak. shares surged 17% after announcing .
Money Report
Nvidia is back in the green
Nvidia on Wednesday climbed more than 4% on the back of news that it would of its top artificial intelligence chips to Saudi Arabia. The share move puts Nvidia into positive territory for the year, becoming the amid the broader market's recovery. Amazon, Alphabet, Tesla and Apple are still facing year-to-date losses in their share prices.
Largest deal for Boeing and Qatar Airways
and Qatar Airways on Wednesday announced a deal for the Middle Eastern airline to during Trump's state visit with the emir of Qatar. The order, which is the biggest in Qatar Airways' history — and for Boeing, according to Trump — is a boost to the beleaguered planemaker, which hasn't posted a profit since 2018.
'I like you too much': Trump to Saudi crown prince
At the U.S.-Saudi Investment Forum on Tuesday that was attended by CEOs such as Tesla's Elon Musk, Nvidia's Jensen Huang and Larry Fink, Trump gave a speech in which he praised Saudi Arabia and told the country's Crown Prince Mohammed bin Salman — who was in the audience — "." Trump also in Saudi Arabia the same day.
AI shrank Klarna's workforce
Klarna CEO Sebastian Siemiatkowski told C온라인카지노사이트 the company has cut its workforce "from about 5,000 to now almost 3,000 employees" — that's a — because of investments in artificial intelligence and natural attrition in its workforce. The company that AI was doing the work of 700 customer service agents. Klarna after Trump announced tariffs.
[PRO] Stocks could retest April lows: Steve Cohen
Steve Cohen, founder of investment firm Point72, said he thinks stocks could "go back toward the lows" in April and that there's a . Cohen, however, said a decline in the stock market would not necessarily be a "calamity."
And finally...
Nvidia announced an agreement with Saudi Arabia on Tuesday to develop the kingdom's artificial intelligence capabilities, a sign of its expanding global strategy.
As Nvidia CEO was in Saudi Arabia announcing the the Trump administration released a new round of AI chip restrictions targeting China. The Commerce Department issued a warning against the use of U.S. AI chips for Chinese models and singled out "diversion tactics" and securing supply chains to target smuggling.
The new export restrictions came days after the U.S. and China agreed to pause most tariffs on each other. With the White House also eliminating the "," the new policies add another layer of controls for Nvidia to navigate.
