An increase in share buybacks during fourth quarter earnings reports is the latest sign that companies are feeling better about their financial situation despite higher interest rates.
With stocks hovering near record highs after an earnings-driven rally, a fresh reading on inflation will bring the Federal Reserve's interest rate path back into focus.
A staggering rise in shares of chipmaker Nvidia helped the SPDR S&P 500 ETF Trust become the first exchange traded fund to top $500 billion in assets, market participants said. A sizeable chunk of those gains came from the surge in Nvidia, whose heavy weighting in the S&P 500 gives it an outsized influence on the index’s moves. “This is a result of Nvidia climbing to new highs rather than of fresh demand for the ETF,” said Todd Rosenbluth, chief ETF strategist at VettaFi.