Posted 2/23/2024, 5:37:00 PM
Stocks Pull Back From Records As Nvidia Rally Reverses, Upbeat Earnings Outlooks Lift Block and Carvana
- Stocks retreated from record highs on Friday after an AI-fueled rally led by Nvidia earnings
- The S&P 500 rose 0.1% while the Dow gained 0.2%; the Nasdaq slipped 0.1%
- Nvidia shares continued rising to tap a $2 trillion valuation before reversing
- An upbeat earnings outlook from Block and Carvana fueled double-digit pops in their stocks
- Chances of a US rate cut are coming back into view though Fed officials differ on timing