US stocks soared on Thursday as blockbuster earnings from AI darling Nvidia ignited a global rally across the major indexes, eclipsing concerns about the Federal Reserve's caution over interest-rate cuts. The tech-heavy Nasdaq shot up more than 3% on the heels of the chipmaker's results, while the S&P 500 jumped about 2.2%. The Dow Jones Industrial Average popped almost 1.4%, or more than 500 points.
That reassured investors about the strength of the AI mania that has lifted US stock gauges to record highs. The chipmaker's CEO said generative AI has "hit the tipping point" as it reported a 265% rise in revenue and laid out very upbeat guidance, a sign demand for AI hardware is booming. Nvidia shares climbed about 15% to hit a record high.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Stocks Slip as Investors Await Nvidia Earnings, Fed MinutesUS stocks slipped on Wednesday as investors counted down to high-stakes earnings from AI darling Nvidia (NVDA) and the release of Federal Reserve minutes which reiterated the central bank's focus on not cutting interest rates too soon.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: US stocks close lower as early rate cut hopes fadeHopes now rest on a jam-packed week of corporate earnings to keep the rally alive.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Nasdaq leads declines as earnings take center stageInvestors are looking to Walmart earnings to provide insight into consumer resilience, while Nvidia's results loom large.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
US Stocks Pause After Hitting Record Highs, Arm's Outlook Boosts Investor SentimentUS stocks opened near the flatline on Thursday, hitting pause after hitting fresh record highs, as investors cheered chipmaker Arm's outlook and looked for fresh impetus in the latest batch of corporate results.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
US Bonds Rebound; China Bets Bolster Asia Stocks: Markets WrapUS bonds rebounded before a record $42 billion sale of 10-year Treasuries after a solid start to this week’s ramped-up issuance sizes. Stocks in Hong Kong were set to rally a second day on bets China will be more forceful to prop up markets.
Source: BNNBloomberg - 🏆 83. / 50 Read more »