Oddbean

CNBC Daily Open: Nvidia unseats Microsoft as world's most valuable company ========== Nvidia surpassed Microsoft to become the world's most valuable public company with a market cap of $3.34 trillion. This milestone comes after a 170% surge in Nvidia's share price this year and a more than nine-fold increase since the end of 2022. Nvidia has an 80% share of the data center AI chip market. The S&P 500 dethroned Microsoft as the world's most valuable company. May retail sales raised concerns about the US economy. US retail spending grew by a meager 0.1% in May, signaling a slowdown in consumer spending. Taiwan Weighted index rose to a record high, crossing the 23,000 barrier. The Federal Reserve has signaled a possible rate cut by the end of the year. Boston Federal Reserve President Susan Collins expressed cautious optimism about recent inflation data. Federal Reserve Governor Adriana Kugler signaled the likelihood of a rate cut later this year. Wall Street is aware of the risk of tipping the economy into contraction by not cutting rates now. #Nvidia #Microsoft #MarketCap #AiChipMarket #S&p500 #RetailSales #UsEconomy #TaiwanWeightedIndex #FederalReserve #RateCut #InflationData #WallStreet https://www.cnbc.com/2024/06/19/cnbc-daily-open-nvidia-unseats-microsoft-as-worlds-most-valuable-company.html