US stock market today: Dow Jones rose 200 points; S&P and NASDAQ 100 flat; NVIDIA to raise $500 billion

The US stock market opened in the green across the board after crude oil prices cooled off on Tuesday evening. While the Dow Jones rose 200 points, the S&P 500 and the NASDAQ traded near flat lines on Tuesday evening. Meanwhile, chip stocks traded with high optimism after NVIDIA announced plans on raising half a trillion dollars from institutional investors.

Crude oil prices erased the earlier gains on Tuesday to trade in the red. The Brent crude oil futures fell below $86 per barrel after hitting the $90 per barrel mark on Tuesday. Similarly, the WTI crude oil prices fell near the $81 per barrel mark after hitting an intraday high of $84 per barrel.

The NVIDIA share price rose over 1.5% on Tuesday after the company announced raising $500 billion in partnership with institutional investors like Apollo, Blackstone, BlackRock, Goldman Sachs, KKR and Brookfield.

Meanwhile, investors remain on the sidelines ahead of crucial CPI inflation data, scheduled to be released on Wednesday, Aug 11. Treasury yields hover at two-year highs, awaiting fresh cues from inflation data. FOMC members stand divided on the interest rates trajectory. A higher-than-expected rise in inflation would increase the probability of rate hikes this year.

At the stock-specific level, Intel shares slid over 4% on Tuesday after the company increased its share sale target to $20 billion from $5 billion earlier. The hike in the stake sale target soured investor sentiment as they turned cautious about tangible returns on investments in AI and related infrastructure.

At the stock-specific level, the megacap companies like Alphabet Inc, Amazon Inc, Microsoft Inc and Apple Inc traded in the red with losses of up to 1.2%.

Chinese markets declined even while Shanghai IPO newcomer Guoyi jumped 419% on its debut. South Korea’s Kospi rose, driven by strong buying among chip stocks such as Samsung Electronics gaining 4.13%. Meanwhile, the Japanese market was closed for Mountain Day.

(This is a developing story)