Nvidia's and Palantir's stocks have more than doubled this year, but Wall Street is bullish on one and bearish on the other.

U.S. stocks are drifting around their records as financial markets around the world take a pause following big recent moves

Assuming Nvidia does reach $600 billion in sales in 2030, the stock will have to maintain its current price-to-sales ratio (P/S) of 32 to generate 561% returns from this level. That would translate into a market cap of $19.2 trillion, compared to the current level of just under $3 trillion.

U.S. stocks are hanging near their records after Chinese stocks soared following a slew of moves by the Chinese central bank to prop up the world’s second-largest economy