European stocks rose 0.75% after hitting a record high powered by technology shares. MSCI's gauge of stocks across the globe rose 0.28% to 829.66.
"Interestingly, Nvidia did as well as anybody expected. They did even better, I would say they even crushed the numbers," said Mark Malek, chief investment officer at SiebertNXT in New York. The U.S. economy grew at a 3.0% annualized rate last quarter, according to Commerce Department data on Thursday, indicating that the Federal Reserve would have room to begin cutting rates in September.
Investors are also eyeing the personal consumption expenditure price index - which is the Fed's preferred inflation measure - is due on Friday.
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Stocks rally before the Fed decision as Nvidia soars 10% to lead chip comeback: Live updatesStocks rose Wednesday as investors parsed the latest earnings reports and readied for the Federal Reserve monetary policy decision.
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Intel's 21.5% share plunge drags global chip stocks; Nvidia falls 3.5% in premarket tradingAsian stocks including Samsung and TSMC closed lower as European chip firms including ASML also dropped.
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Intel shares plunge 21% in premarket trading, Nvidia down 3.5% as global chip stocks fallAsian stocks including Samsung and TSMC closed lower as European chip firms including ASML also dropped.
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These 10 stocks usually rise when Nvidia shares fallWhile Nvidia tanked by nearly 12% last month, stocks identified by CNBC Pro rose by 9%.
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Nvidia, Super Micro Computer lead AI trade carnage with both stocks down more than 12%Artificial intelligence stocks that have powered much of 2024’s market gains dropped Monday as U.S. recession fears sparked a global sell-off on Wall…
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Nvidia, Super Micro Computer lead AI trade carnage with both stocks down more than 12%Artificial intelligence stocks that have powered much of 2024’s market gains dropped Monday as U.S. recession fears sparked a global sell-off on Wall…
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