Wall Street closes a week marked by Nvidia and its new records on mixed ground

Wall Street closed on mixed ground a week marked by the semiconductor giant Nvidia and its new records, temporarily becoming the most valuable company in the world on Tuesday.

The Dow Jones Industrial Average, Wall Street’s main indicator, rose 1.45% this week, its best result since May; while the selective S&P 500 set an intraday record of 5,505 points at the beginning of the week and – although it is now slightly below the 5,500 integer threshold – has grown 0.6% in the last five days.

Likewise, the technological Nasdaq lost 0.18% this Friday, to 17,689 units, but remained practically unchanged in the accumulated figure for this week.

At the corporate level, the week was influenced by the price of Nvidia, which, although it lost 3.22% this Friday, has risen 155% so far this year and on Tuesday it briefly surpassed Microsoft as the most valuable company ( 3.34 trillion dollars).

Although, in recent sessions some signs have begun to appear of a market that is now wondering if the stock market boom of artificial intelligence (AI) has reached its limit.

Even Nvidia, which is big enough to influence the market, is showing signs that its bullish momentum may be slowing.

“It’s probably not a bad time to take some chips off the table,” Aspiriant CEO Dave Grecsek told CNBC.

On the other hand, this Friday it was learned that sales of second-hand homes in the US are at their lowest level in the last three decades and that they did not move much in May, since prices reached a new record and mortgage rates remain high.

According to the National Association of Realtors (NAR), existing home sales in May remained broadly stable, down 0.7% from April. These, in addition, fell 2.8% compared to May of last year.

“Home sales refuse to recover. I thought we would see a recovery this spring, but we’re not seeing it,” said Lawrence Yun, chief economist at NAR.

In other markets, Texas crude oil recorded its second consecutive weekly rise this day – an advance of almost 2.9%, to $80.62 – at a time when gasoline demand has skyrocketed to equal the pre-pandemic highs.