Tech Gains Propel Markets Amid Cautious Geopolitical Climate

The Nasdaq and S&P 500 surged due to the rise in technology shares, led by Nvidia's gains. Walmart shares also advanced following raised forecasts. Market caution was influenced by geopolitical tensions, notably Russia's actions regarding Ukraine. Investors await key appointments in Trump's administration, impacting market sentiments.

In a day marked by significant market activity, the Nasdaq climbed approximately 1%, with the S&P 500 also making gains, driven predominantly by advancements in the technology sector. Notably, Nvidia's shares saw a rise of 3.9% in anticipation of its third-quarter results, leading the positive trajectory for the day.

Meanwhile, Walmart shares experienced a boost after the retailer elevated its annual sales and profit forecasts, complementing the upward movement of megacap stocks such as Apple and Amazon. Market trepidation was palpable earlier due to geopolitical developments, specifically Russia's military posture, which initially sent the main indexes downward.

Investors are also eyeing developments from President-elect Donald Trump's incoming administration, with key cabinet positions still to be determined. Analysts at Goldman Sachs are forecasting a continuation of the S&P 500's upward trend, projecting it to reach 6,500 by 2025, adding a layer of optimism to the financial outlook.

(With inputs from agencies.)