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On July 28th, Apple (AAPL.O) surpassed Nvidia (NVDA.O) to regain the title of the worlds most valuable company by closing price, for the first time since April 2025. Nvidias stock price fell nearly 5% on Monday, reducing its market capitalization to $4.77 trillion, as investors expressed concerns about the enormous costs of building AI infrastructure, leading to a general decline in the AI chip sector. Meanwhile, Apples stock price rose 1%, reaching a market capitalization of $4.95 trillion, ahead of its highly anticipated earnings report after the market closes on Thursday. Nvidia had held the title of the worlds most valuable company since dethroning Microsoft in June 2025, and briefly touched a $5 trillion market capitalization last October. So far in 2026, Nvidias stock price has only risen 4%, while Apples has risen 24%. Apples outperformance is attributed to its cautious approach to AI capital expenditures, favoring leased computing power over self-built infrastructure—a strategy that has resonated with investors.A U.S. Senate aide said the Senate is expected to begin voting on the Russia sanctions bill as early as Tuesday (during Ukrainian President Zelenskys visit to the U.S.).According to two Senate aides, Ukrainian President Volodymyr Zelensky will meet with the full U.S. Senate on Tuesday evening local time.On July 28th, Nvidia (NVDA.O) announced on Monday that its CEO, Jensen Huang, will travel to Washington to meet with lawmakers to discuss U.S. leadership in artificial intelligence. An Nvidia spokesperson stated that Huang will meet with leaders from both parties on Capitol Hill to discuss the latest developments in the technology, including the importance of maintaining leadership in open source. Huang is scheduled to meet with Senator Mark Warner, the ranking Democrat on the Senate Intelligence Committee, on Tuesday. Warner expressed serious concerns about security threats last week following the autonomous cyberattack on OpenAI. His office has confirmed the meeting. This meeting comes as Huang speaks out for open source AI on social media platform X, stating that such models "can enhance security and cybersecurity, accelerate innovation and adoption, and achieve sovereignty." Huangs visit coincides with OpenAI founder Altmans expected meeting with lawmakers in Washington, but a Warner spokesperson stated that the two meetings are scheduled separately.According to sources, Venezuelas state-owned oil company PDVSA will suspend operations at the El Palito refinery for a major overhaul lasting three to four weeks.

Edging Higher as Investors Digest Jobs Data

Jimmy Khan

Jul 11, 2022 15:22

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The tech-weighted index is on track to have its greatest performance since early November if it advances for a fifth consecutive session.


As investors processed Friday's U.S. Non-Farm Payrolls data, the September E-mini NASDAQ-100 Index futures were slightly higher late in the day.


Investors are also preparing for the US consumer inflation data due out next week. The tech-weighted index is poised to end up for a fifth consecutive session, which would be its best showing since early November, despite Friday's poor trading.


September E-mini NASDAQ-100 Index futures are now trading at 12163.25, up 24.75 or +0.20 percent, as of 19:00 GMT. The S&P 500 Trust ETF (GLD) is down $0.28 or 0.07 percent, trading at $388.71.


According to a Reuters survey of experts, the Labor Department's eagerly anticipated report revealed Non-Farm Payrolls grew by 372,000 jobs in June, greater than the gain of 268,000 expected. The survey also revealed that average hourly wages increased by 0.3 percent after increasing by 0.4 percent in May, while the unemployment rate held steady at 3.6 percent, close to pre-pandemic lows.


The price movement indicates that investors have factored in the widely anticipated 75-basis point rate rise by the Fed on July 27. Gains are, however, being constrained by usually anxious traders who are fixated on analyzing every new piece of data as it is revealed. The US Consumer Inflation (CPI) data is due out on Wednesday. Due to the increase in fuel prices in June, a good start is anticipated.


Short-Term Outlook The September E-min NASDAQ-100 Index's movement into Friday's close will probably depend on how traders respond to the short-term 50 percent mark at 12021.00.

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