Stock Market Today: Nvidia Tops $2 Trillion in Market Cap
Stocks ran out of steam Friday following a strong week on Wall Street.


The Nasdaq Composite kept investors on edge for most of Friday as the tech-heavy index hovered around record-high territory. Stocks jolted higher out of the gate, but a midday retreat put the milestone just out of reach.
At the close, the Nasdaq was down 0.3% at 15,996, slightly below its closing peak of 16,057.44 set in November 2021. The S&P 500 (+0.03% at 5,088) and the Dow Jones Industrial Average (+0.2% at 39,131), however, did notch new record closes today. All three indexes finished higher on a weekly basis thanks to Thursday's sizzling session.
Yesterday's upside came almost solely at the hands of Nvidia (NVDA), which spiked more than 16% in reaction to the chipmaker's impressive earnings report. NVDA kept climbing today, adding another 0.4%.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
"Nvidia has become the bellwether stock for activity in the artificial intelligence (AI) space," says Michael Gregory, deputy chief economist at BMO Capital Markets. "And rocketing top-line revenue points to continued diffusion of AI and other advanced computing technologies across the U.S. (and global) economy."
Nvidia's market value briefly topped the $2 trillion mark in the intraday session, before settling just below here at $1.975 trillion. It's an elite group of companies with market caps above $2 trillion, with Dow Jones stocks Apple (AAPL, -1.0%) and Microsoft (MSFT, -0.3%) the only members. NVDA first hit the $1 trillion market cap level in June.
Block soars after earnings
NVDA wasn't the only notable mover today. Block (SQ) spiked 16.1% after the payments company said fourth-quarter earnings nearly doubled on a year-over-year basis to 45 cents per share. Revenue was 24% higher at $5.77 billion. Additionally, the company's Cash App Card active monthly users surged 20% to 23 million.
In his letter to SQ shareholders, Block CEO Jack Dorsey said the company is "focused on growing within the U.S., not expanding into new markets, and we're focused on driving growth through inflows per active more than actives." This strategy will allow Block "to build the largest network in the long run, with a highly engaged customer base using Cash App as their primary banking solution," he notes.
Still, CFRA Research analyst Caydee Blankenship maintained a Hold rating on the fintech stock. "While SQ's cost-cutting measures (headcount reductions and lower sales/marketing spending) signal a positive direction, we remain cautious about the potential long-term implications for business growth," the analyst wrote in a note.
Elsewhere, Intuitive Machines (LUNR) jumped 15.8% after the company said its spacecraft Odysseus landed on the moon. This marked the first time a commercial vehicle has accomplished such a feat.
Inflation data, Salesforce earnings on deck
Looking ahead, all eyes will be on the Thursday morning release of the January Personal Consumption and Expenditures (PCE) index, the Fed's preferred measure of inflation that tracks consumer spending. Additionally, blue chip stock Salesforce (CRM, -0.3%) headlines a relatively full earnings calendar.
Related content
- Best Blue Chip Stocks: 21 Hedge Fund Top Picks
- Why Is Walmart Splitting Its Stock?
- Biden Cancels $1.2 Billion in Student Loan Debt: What To Know
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
-
Stock Market Today: S&P 500, Nasdaq Hit New Highs on Retail Sales Revival
Strong consumer spending and solid earnings for AI chipmaker Taiwan Semiconductor Manufacturing boosted the broad market.
-
Higher Summer Costs: Tariffs Fuel Inflation in June
Tariffs Your summer holiday just got more expensive, and tariffs are partially to blame, economists say.
-
Stock Market Today: S&P 500, Nasdaq Hit New Highs on Retail Sales Revival
Strong consumer spending and solid earnings for AI chipmaker Taiwan Semiconductor Manufacturing boosted the broad market.
-
If You'd Put $1,000 Into Berkshire Hathaway Stock 20 Years Ago, Here's What You'd Have Today
Berkshire Hathaway is a long-time market beater, but the easy money in BRK.B has already been made.
-
New SALT Cap Deduction: Unlock Massive Tax Savings with Non-Grantor Trusts
The One Big Beautiful Bill Act's increase of the state and local tax (SALT) deduction cap creates an opportunity to use multiple non-grantor trusts to maximize deductions and enhance estate planning.
-
Know Your ABDs? A Beginner's Guide to Medicare Basics
Medicare is an alphabet soup — and the rules can be just as confusing as the terminology. Conquer the system with this beginner's guide to Parts A, B and D.
-
I'm an Investment Adviser: Why Playing Defense Can Win the Investing Game
Chasing large returns through gold and other alternative investments might be thrilling, but playing defensive 'small ball' with your investments can be a winning formula.
-
Stock Market Today: Powell Rumors Spark Volatile Day for Stocks
Stocks sold off sharply intraday after multiple reports suggested President Trump is considering firing Fed Chair Jerome Powell.
-
Callable CDs Have High Rates: We Still Don't Recommend You Get Them
Investors must carefully consider the trade-offs, as falling interest rates could lead to reinvestment at a lower yield and make selling on the secondary market difficult.
-
Five Big Beautiful Bill Changes and How Wealthy Retirees Can Benefit
Here's how wealthy retirees can plan for the changes in the new tax legislation, including what it means for tax rates, the SALT cap, charitable giving, estate taxes and other deductions and credits.