Shares of technology companies rose amid optimism about the artificial-intelligence boom. Nvidia shares rose ahead of the graphics-chip maker's earnings report next week.
Nvidia is the largest contributor to aggregate earnings from the tech sector of the S&P 500, said one strategist.
"It's going to be interesting to see what happens there," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.
Nvidia's popularity is a reflection of "AI, and the power and the significance of it," said Joyce.
Website-development company SquareSpace agreed to a $6.6 billion takeover by private-equity firm Permira.
Intel is in advanced talks for a transaction in which investment firm Apollo Global Management would supply more than $11 billion to help the chip giant build a plant in Ireland.
Electric-car maker Tesla is offering another classic incentive to move metal. It's an attractive, below-market, financing rate available for new Model Y electric vehicle purchases.
The Chinese bargain-hunting app Temu, which has gained spectacular popularity with American consumers, is shifting business priorities beyond the U.S. to Europe and other markets, The Wall Street Journal reported.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-13-24 1708ET
