S&P 500 And Nasdaq Rise To Record Highs, Powered By NVDA Gains Amid New PC Chip, While Trump’s Positive Commentary On US-Iran Supports Dow — NVDA, ARM, MGM, ZM, AMC In Focus

• The S&P 500 rose 0.3%, and the Dow Jones gained 0.1%, while the Nasdaq 100 added 0.6%.
• Nvidia unveiled a new chip for personal computers.
• Software stocks jumped across the board following positive commentary from Nvidia’s Jensen Huang.

U.S. benchmark stock indices ended higher on Monday, with the S&P 500 gaining for the eighth consecutive session, led by Nvidia after it revealed a new chip for personal computers, while a broader rally in software stocks and positive commentary from U.S. President Trump on the war with Iran provided additional support. 

The S&P 500 ended 0.3% higher, the Nasdaq 100 rose 0.6%, and the Dow Jones inched 0.1% higher on Monday, all hitting fresh highs, as per data from Koyfin. The Russell 2000, which tracks stocks with small market capitalization, slipped 0.5%.

Among ETFs tracking benchmark indexes, the SPDR S&P 500 ETF (SPY) and Invesco QQQ Trust (QQQ) ended Thursday around 0.3% and 0.5% higher, respectively. The SPDR Dow Jones Industrial Average ETF Trust (DIA) gained 0.1%. 

The VanEck Semiconductor ETF (SMH) jumped 1.4%. 

Meanwhile, retail sentiment on Stocktwits for SPY, QQQ and DIA was all in the “extremely bullish” territory with “extremely high” message volumes.  

US Market Drivers

Investors on Monday were whipsawed by a host of headlines around the U.S.-Iran war with the latest attacks by Israel on Lebanon taking center stage. 

 Iranian state media reported that the country’s negotiators are stopping communication with the U.S. and that Tehran will completely shut the Strait of Hormuz because of Israeli attacks on Lebanon. 

President Donald Trump told CNBC in a phone interview that he does not care about the negotiations with Iran. “I really don’t care. I couldn’t care less,” Trump told CNBC.  

Later on a post on Truth Social, Trump wrote that talks with Iran “are continuing, at a rapid pace.” He also said in a separate post that he “had a very productive call” with Israel’s Netanyahu, adding that “there will be no Troops going to Beirut, and any Troops that are on their way, have already been turned back.” 

While political commentary pushed oil prices higher, a broader boom in software shares lifted the S&P 500 and Nasdaq after Nvidia’s CEO, Jensen Huang, firmly rejected the idea that artificial intelligence will replace software developers or render software companies obsolete. 

"A lot of people have said…AI is coming, Agentic AI is coming. Therefore, all of the software companies are going to go out of business, I said it's exactly the opposite," he said at a tech conference in Taiwan. 

Trending Stocks To Watch 

Nvidia (NVDA): The chipmaker revealed its "RTX Spark" chip for PCs to rival Intel and AMD. Speaking at the Computex event in Taiwan, CEO Jensen Huang said major PC manufacturers, including Dell and Lenovo, will begin offering systems powered by the new chips later this year.   

ARM Holdings (ARM): Shares surged after Nvidia, in collaboration with Microsoft, unveiled its RTX Spark platform, which is built on ARM architecture at its core.    

MGM Resorts International (MGM): Billionaire Barry Diller’s firm, People Inc, submitted an $18 billion cash bid to take the casino operator private.   

Zoom Communications  (ZM): Shares soared after Anthropic filed IPO documents with the SEC. ZM has a $1 billion stake in Anthropic. 

AMC Entertainment (AMC): Shares soared after the company announced it recorded its highest domestic and global May attendance since 2019. 

Read More: INFQ Stock At Near 5-Month Highs: UK Expansion, Russell 3000 Inclusion And Wider Quantum Computing Optimism Driving Stock

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