NEW YORK — Stocks rose on Wall Street Thursday as markets shift their focus back to the U.S. economy.
The market’s gains came despite a drop in Nvidia, which has ridden the frenzy over artificial intelligence to become one of the S&P 500’s most influential companies. Its shares fell 2.5% despite stellar results for the second quarter. The stock, with a total market value topping $3 trillion, is still up 147% in 2024.
The mostly solid earnings and economic growth updates are capping off a month of encouraging reports for the broader economy. Data from various reports in August have shown that retail sales, employment and consumer confidence remain strong.
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