Stock market today: Tech stocks rally after blowout Nvidia profit, while rest of Wall Street drifts

NEW YORK — Technology stocks are jumping in early trading following a blowout profit report from Nvidia, but moves for the rest of Wall Street are more muted. The S&P 500 was 0.3% higher early Thursday, continuing a strong week that has trimmed its loss for August so far. The Dow was little changed and the Nasdaq composite was leading the market with a 0.5% gain. Nvidia was at the center of the run after it reported much stronger profit and revenue for the latest quarter than expected.

Nvidia shares jumped more than 8% in off-hours trading after the company's results covering the May-July period exceeded its own projections for astronomical sales growth. That growth has been propelled by the company’s specialized chips that help power different forms of artificial intelligence, such as Open AI’s popular ChatGPT and Google’s Bard chatbots.

Boeing fell nearly 2% after fuselage supplier Spirit AeroSystems said it discovered a quality issue on certain models of the 737 fuselage. Spirit said it would continue to deliver the units to Boeing, which said there is no immediate safety concern associated with the issue. At midday in Europe France's CAC 40 added 0.4%, Germany's DAX gained 0.3%, Britain's FTSE 100 rose 0.7%.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Tech stocks rally after blowout Nvidia profit, while rest of Wall Street driftsTechnology stocks are jumping in early trading following a blowout profit report from Nvidia, but moves for the rest of Wall Street are more muted. The S&P 500 was 0.3% higher early Thursday, continuing a strong week that has trimmed its loss for August so far.
Source: CTVNews - 🏆 1. / 99 Read more »

Stock market today: Wall Street ticks higher in early trading, led again by Big TechNEW YORK (AP) — Wall Street is ticking higher in early trading, on track for its first back-to-back gain in what’s been a miserable August. The S&P 500 was up 0.3% early Tuesday, coming off a gain powered by Big Tech stocks.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street drifts a day after a rare August climb for stocksNEW YORK (AP) — Wall Street is drifting Tuesday and may be heading toward its first back-to-back gain in what’s been a miserable August. The S&P 500 was up 0.1% in early trading, coming off a gain from Monday powered by Big Tech stocks.
Source: SooToday - 🏆 8. / 85 Read more »