Nasdaq, S&P 500 futures pop as Nvidia results light up chip stocks

May 23 - Futures tracking the tech-heavy Nasdaq and the benchmark S&P 500 climbed on Thursday, driven by a rally in chip stocks after Nvidia's upbeat revenue forecast cemented investor optimism around the meteoric rise of artificial intelligence technology.

The semiconductor bellwether also announced a stock split, following an over 90% surge in its shares this year and a threefold jump in 2023 that have made Nvidia the third-most valuable U.S. stock. AI-related stocks such as Super Micro Computer , opens new tab, C3.ai , opens new tab, Palantir Technologies , opens new tab and SoundHound AI , opens new tab also gained between 1.5% and 5.3%.

Markets are also eyeing economic data scheduled through the day including weekly jobless claims, S&P Global flash PMIs and housing figures. Among other premarket movers, data cloud analytics firm Snowflake , opens new tab advanced 4% after forecasting second-quarter product revenue above estimates and raising its annual expectations.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

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

Stock market today: Nasdaq, S&P 500 futures pop as Nvidia galvanizes stocksNvidia's blockbuster earnings have fired up optimism for AI's ability to fuel growth, eclipsing rate-hike worries for now.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Nvidia's impact on S&P 500 earnings growth: Chart of the DayNvidia's (NVDA) first-quarter earnings are highly anticipated as the chip company's stock closed at a record high on Tuesday. Yahoo Finance's Julie Hyman...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market: S&P 500, Nasdaq continue rebound from Q2 lowsThe S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) are finding their groove as they close slightly higher for the third session in a row, shaking off pre...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500, Nasdaq notch big gains as Tesla kicks off 'Magnificent 7' earningsThe wait for Tesla results is on as investors look to Big Tech earnings to buoy stocks.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »