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AI Infrastructure Boom Drives Market Movers | Closing Bell
Bloomberg Television· 2026-08-11 20:27
And right now we are two minutes away from the end of the trading day. Romaine Bostick here with Isabella taking you through to that closing bell. It's a global summer cast.Tim Stanojevic joins us from the radio booth. Christina Aquino in today for Carol Massar. Welcome to our audiences across all of our Bloomberg platforms as you pass the most crucial moments of the day.Tim, a bit of a holding pattern for stocks and mixed day here with the S&P and the Nasdaq in the red. The Russell 2000 in the green. Yeah. ...
Market Open: Stocks Mixed, Nvidia Chips an "Investable Asset," Oil Lower | 8/11/26
CNBC Television· 2026-08-11 13:59
Market Dynamics & Stock Performance - Major stock market averages showed mixed results, with the Dow Jones Industrial Average rising by 63 points, the S&P 500 index increasing by 2 points, and the Nasdaq falling by 7 points [1] - Caterpillar shares led the Dow higher with a 1.8% increase, while chipmaker shares performed mixed with Nvidia rising by 1.5% and Intel, Broadcom, and AMD declining [1] - Market participants showed tendencies to take profits due to concerns over hyperscalers spending heavily on data centers and potential interest rate hikes driven by uncontrolled inflation [2][3] - Cardinal Health shares ticked higher following mixed results, and First Solar shares increased after receiving an upgrade from Baird [5] Industry Investment & Infrastructure - Nvidia secured another $500 billion in financing partnerships with 6 of the world's largest asset managers, positioning its AI chips as an investable asset [3] - Major asset management firms involved in the Nvidia partnership include BlackRock, Brookfield, Goldman Sachs, KKR, and Blackstone [4] - Nvidia's CEO highlighted that building AI infrastructure requires a hefty price tag, estimating that each gigawatt costs approximately 50 to 60 billion dollars, encompassing energy, land power, and computing components [4] - Nvidia transformed its AI factory platform from traditional technology components into an investable asset [5] Consumer Goods & Macroeconomic Indicators - Holiday Inn parent IHG reported a 10% jump in profits, driven by boosted hotel demand from middle-class spenders and World Cup spending [5] - National average gas prices pulled back by 7 cents over the past week, with regular gasoline standing at $4.01 per gallon according to AAA [6] - Acura's ADX launched as the cheapest fully loaded SUV of the year, priced under $43,000 before taxes and fees, while the average new vehicle price hovered near $50,000 [6] - Global box office ticket sales achieved major milestones, with *Spider-Man: No Way Back* and *The Odyssey* surpassing 1 billion dollars globally, and *Spider-Man* approaching the 2 billion dollar club [6][7]