Tech stocks were an outlier, though, and the Nasdaq composite rose 0.2% to set another record thanks to Nvidia, the market’s most influential stock.

Treasury Secretary Scott Bessent’s comments and news of the resumption of H20 chip sales to China have excited Wall Street.

Nvidia's shares have climbed back to all-time highs as investors regain optimism in its AI infrastructure business. Generative AI will change the world. With shares up more than 50% since the start of April,

Nvidia stock is jumping today following announcements that the Trump administration will allow the company's H20 processor and other hardware to be sold in China. The approval of the export licenses for the company's AI hardware is an unexpected development -- and a big win for CEO Jensen Huang.

Nvidia stock jumped 4.3% to $171.19 in early Tuesday trading, marking another all-time high for the stock. The move builds on the momentum that led Nvidia to become the first company ever to close with a market value of more than $4 trillion last week. The Nasdaq Composite and S&P 500 were up 0.7% and 0.2%.

President Trump announced a new trade deal with Indonesia, while Treasury Secretary Scott Bessent said the formal search for Fed Chair Jerome Powell’s successor has begun. Plus: Nvidia shares rose after the White House said the company will be able to sell artificial-intelligence chips to China.

Now, let's consider Jensen Huang's recent move. The CEO sold shares of Nvidia from July 8 through July 10, and that follows a sale of shares from June 18 through June 23.

Three weeks ago, we recommended Nvidia stock and shorting out-of-the-money puts. Now, NVDA is near its target prices, and the short play is successful. What is the best play here?

Trump’s tariffs and the trade war continue to roil global markets. Follow along for live updates on the latest inflation report, as well as the Dow, S&P 500 and Nasdaq.