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Nvidia and Nasdaq achieve record highs while inflation remains as Memorial Day marks the start of summer



Nvidia shares have reached an all-time high after announcing a 10-for-1 stock split following strong quarterly results and an improved forecast. This move solidifies the chipmaker’s dominance in artificial intelligence and has impressed investors. The tech-heavy Nasdaq Composite also hit a new record high, driven in part by Nvidia’s success, which has also lifted other semiconductor stocks. The S&P 500 closed just shy of its latest record high, propelling retirement accounts to new highs with the rising tide of the U.S. stock market. News Corp. and OpenAI have signed a groundbreaking deal that will impact the future of news, while the Securities and Exchange Commission has laid the groundwork for a possible Ethereum exchange-traded fund, potentially rivaling Bitcoin’s success in the ETF market.

Despite these positive developments, there are also concerning trends in the economy. Target is struggling with inflation, as evidenced by its latest quarterly report which shows consumers burdened with maxed-out credit cards. Inflation is also affecting the prices of BBQ staples, with consumers expected to pay more for grilling essentials this summer. Red Lobster has officially filed for bankruptcy, with some speculating that its demise may be linked to its value deals that attracted customers. Additionally, a Singapore Airlines flight experienced severe turbulence that resulted in one fatality and left dozens of passengers shaken. On a brighter note, a city in Florida has been named the best place to live according to a report from U.S. News & World.

Overall, the stock market is experiencing highs and lows, with technology companies like Nvidia leading the way. Investors are optimistic about the future of AI and cryptocurrency, while also facing challenges such as consumer debt and inflation. Businesses like Target and Red Lobster are navigating turbulent waters, while tragedies like the Singapore Airlines incident serve as a reminder of the unpredictable nature of life. Despite these ups and downs, the economy continues to move forward, with opportunities for growth and prosperity for those who can navigate the ever-changing landscape of the market.

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