Nvidia, the world’s most valuable public company, has surged by more than 30 per cent this year, becoming the first group to reach $4tn in market value. It has been a significant contributor to the S&P 500’s 9 per cent rise in 2025 because of its mammoth market value.

Wall Street stocks ended lower on Monday as investors parsed the outlook for U.S. interest rates and looked ahead to AI chipmaker Nvidia’s quarterly earnings this week while digesting a rally on Friday that lifted the Dow Jones Industrial Average to a record high close.

Wall Street awaits its next test with Nvidia due to report its quarterly earnings this week, as Peter Devlin explains.