Dow Jones futures, S&P 500 futures, and Nasdaq 100 futures were slightly up before the stock market opened on Tuesday. Notably, Nvidia, a leader in artificial intelligence, was nearing record highs. Additionally, the news of former President Donald Trump’s social media platform Truth Social expected to IPO on Tuesday added excitement to the market.
Digital World Acquisition, now Trump Media & Technology Group, announced that common stock and public warrants would trade on the Nasdaq under the ticker symbols “DJT” and “DJTWW.” The surge in DWAC shares on Monday and the anticipation of further gains on Tuesday highlighted the market’s interest in the Trump-backed company. This development has put Trump’s stake in the group at a valuation of over $3 billion.
As Nvidia stock continued to climb near record highs, the stock market awaited the release of key economic data, particularly the Labor Department’s Personal Consumption Expenditures price index, scheduled for Friday. The anticipation of this data, along with the light week for earnings reports, set the stage for an interesting week in the stock market, with investors keeping a close eye on top-performing companies like Nvidia and trial social media platform Truth Social.