Nasdaq futures rally 1% as Nvidia's blowout results lift AI stocks

- Futures tracking the Nasdaq 100 index jumped in the early hours of Thursday after record results from Nvidia, the world's most valuable chipmaker, boosted confidence about the artificial intelligence boom.Dow e-minis were up 30 points, or 0.09%, while S&P 500 e-minis were up 31.25 points, or 0.7%.

Nvidia's Frankfurt-listed shares jumped 9.0% in European trading after the company's quarterly revenue target far exceeded expectations and the chipmaker said it would buy back $25 billion in stock. The results had led to an after-hours jump on Wednesday of 1%-2% in Microsoft and Google-owner Alphabet, both of which are rushing to incorporate generative AI into their Web search platforms and other services.

Frankfurt-listed shares of Microsoft rose 2%, on Thursday while those of Alphabet gained 1%, although volumes were low. Advanced Micro Devices gained about 3% and Marvell Technology jumped 8.5%, also in low volumes.Europe's ASM International, BE Semiconductor, ASML Holding and Aixtron were among the early gainers, rising between 1.8% and 3%.

Shares of Taiwan Semiconductor Manufacturing Co closed up 2.2%, while South Korean chipmakers Samsung Electronics and SK Hynix rose 1.6% and 4.2%, respectively.

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Analysis-Investors look to AI-darling Nvidia's earnings as US stocks rally wobblesBullish investors are hoping Wednesday's earnings report from chip heavyweight Nvidia can rejuvenate a U.S. stocks rally that has stumbled in recent weeks. Nvidia shares have tripled in 2023, underscoring how a rebound in megacap stocks and excitement over the business potential of artificial intelligence have helped propel the S&P 500 to a 14% gain this year. The chipmaker’s year-to-date increase has led gains among the so-called Magnificent Seven group of megacap stocks, which also include Apple and Microsoft.
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Analysis-Investors look to AI-darling Nvidia's earnings as US stocks rally wobblesBy Lewis Krauskopf NEW YORK (Reuters) - Bullish investors are hoping Wednesday's earnings report from chip heavyweight Nvidia can rejuvenate a U.S.
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Investors look to AI-darling Nvidia’s earnings as U.S. stocks rally wobblesThe chipmaker’s year-to-date increase has led gains among the so-called Magnificent Seven group of megacap stocks
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Tech stocks rally, yields drop, ahead of Nvidia earnings: Stock market news todayStocks were higher on Wednesday afternoon with investors bracing for results from Nvidia after the bell.
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