Traders work on the floor of the New York Stock Exchange during morning trading on May 17, 2024 in New York City.
Angela Weiss | AFP | Getty Images
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What you need to know today
Wall Street reaches new highs
The S&P 500 and the Nasdaq Composite rose to fresh record highs as investors await earnings from AI chipmaker Nvidia after the close on Wednesday. The Dow Jones Industrial Average closed 0.17% higher at 39,872.99. Nvidia’s shares rose 0.6% with option traders pricing in swings of as much as 9% up or down in reaction to its earnings. Treasury yields fell and oil prices drifted lower.
Rate cuts several months away
Federal Reserve Governor Christopher Waller said he does not think further rate increases…
