Indexes end sharply higher; AI chip maker Nvidia up ahead of results
U.S. stocks rose sharply as investors anticipated strong quarterly results from Nvidia and looked ahead to the Jackson Hole conference, with tech stocks expected to rally further.
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Posted 8/23/2023, 8:01:00 PM
reuters.com
Relevant topic timeline:
U.S. stock futures rise as Wall Street attempts to build momentum following positive sessions for Nasdaq Composite and S&P 500.
Nvidia shares reach an all-time high due to high expectations for its quarterly results, driven by its dominance in the booming artificial intelligence market.
The surge in U.S. yields has dominated market focus leading up to the Fed's Jackson Hole Symposium, while Nvidia's earnings release is expected to bring high volatility to the chip designer's shares.
Wall Street rises ahead of Nvidia's profit report, as investors anticipate whether the AI frenzy is justified and whether the chip maker can meet high expectations.
Nvidia stock rises ahead of quarterly earnings report as analysts expect strong results due to high demand for AI products and services.
U.S. stocks closed higher as shares of Nvidia surged ahead of their quarterly results, boosting tech stocks and extending the year's rally, while weak business activity data and falling Treasury yields also supported the market.
Stocks rise as investors await results from chipmaker Nvidia, while retail stocks like Foot Locker and Peloton experience significant drops.
Nvidia's strong second-quarter earnings beat expectations, propelling stock futures higher and indicating continued investor interest in artificial intelligence.
Semiconductor stocks in Asia, including Taiwan Semiconductor Manufacturing Corp and Samsung Electronics, surged following Nvidia's strong quarterly results and optimistic guidance, driven by the demand for AI chips used in data centers and artificial intelligence applications.
Investors are hopeful that Nvidia's upcoming earnings report can reignite the U.S. stocks rally, following a 2023 increase in the company's shares and the broader equity rally.
Stocks surged as optimism built ahead of Nvidia's earnings report, despite disappointing economic data and mixed retail earnings, with Foot Locker's share price sliding and Abercrombie & Fitch beating expectations. Nvidia reported strong earnings, with revenue doubling, and investors are particularly interested in the company's comments on meeting the demand for AI chips and the future of the AI space.
U.S. stocks surged on Wednesday, with the Nasdaq leading the way, fueled by optimism over Nvidia Corp.'s earnings and the S&P 500 ending its 36-day streak without a 1% gain.
Nvidia's stock rose 5% after the company reported better-than-expected earnings, strong guidance for the upcoming quarter, and increased demand for its datacenter products.
U.S. stocks opened higher following the Dow Jones Industrial Average's recovery from its worst day in five months as investors awaited Federal Reserve Chairman Jerome Powell's speech at Jackson Hole.
Stocks rise at the beginning of the week after last week's selling, with markets relieved by the 10-year yield remaining at around 4.3%, while anticipating Federal Reserve Chairman Jerome Powell's speech on Friday for insight on short-term interest rates and inflation control.
Most Asian stocks rose on Monday, led by Chinese shares, as China implemented measures to support its stock markets and investors looked ahead to key economic indicators from China and the US.
The stock market rose in the first hour of trading Monday, with the Dow Jones being pulled up by 3M (MMM), while eyes are on consumer economic data and jobs numbers later in the week.
Stocks rise as markets shift focus from the Federal Reserve to corporate and economic reports, with the S&P 500 and Dow Jones Industrial Average both experiencing gains, while investors await upcoming economic data and inflation updates.
The Dow Jones Industrial Average rose as 3M (MMM) surged on legal news, while Nvidia (NVDA) reversed higher alongside other chip stocks, and Cathie Wood invested in a stock that recently gained 124% after a breakout.
China stocks rise as investors welcome Beijing's efforts to support the market, while bonds rally and the dollar dips on possibly softening U.S. data.
European stocks rose for a second day as investors awaited economic figures that could provide insights into global central bank policies, with miners and real estate leading advances in the Stoxx Europe 600 index and NN Group NV jumping more than 10% after beating analysts' expectations, while futures on the S&P 500 and Nasdaq 100 were fluctuating, suggesting US stocks may struggle to maintain Monday's gains.
Nvidia shares reached a record high and a $1.2 trillion market capitalization for the first time, putting them on track for their best year ever, after the company's blowout earnings report impressed investors.
Apple stock rose more than 2% on Tuesday ahead of its Sept. 12 event where the company is expected to announce new products, including the iPhone 15 and new Apple watches.
U.S. stocks were higher on Wednesday, although the gains were smaller compared to the previous day, as market participants received a cooling labor market update and a downward revision to Q2 economic growth.
Stocks on Wall Street rose as the head of the Federal Reserve indicated a cautious approach to interest rates, resulting in the first winning week for the market since July.
U.S. stocks rose after August jobs data showed a slowdown in the pace of job gains, calming investor concerns about the Federal Reserve raising interest rates, with the Dow Jones Industrial Average rising 0.5%, the S&P 500 up 0.4%, and the Nasdaq Composite gaining 0.3%.
Dell Technologies' stock rises after positive earnings update, with analysts highlighting three drivers for optimism.
Dell Technologies' shares surged and reached a record high after the company raised its financial forecasts, citing the positive impact of artificial intelligence and recovering demand for computer hardware.
Global stocks rose on Monday, driven by signs of cooling in the US jobs market and hopes for a reduction in interest rate hikes, as well as fresh stimulus measures in China's property sector.
Stocks rose on Friday as the Nasdaq rebounded from Apple's recent slide, fueled by speculation that the Federal Reserve may not raise interest rates in September, while concerns about rising energy prices and Apple's market value decline continue to linger.
Stocks inched slightly upward Friday, with the Nasdaq rebounding from an Apple-induced slide, as the Federal Reserve hinted at a possible delay in interest rate hikes, while concerns about rising energy prices and Chinese curbs on the use of the iPhone impacted markets.
US stocks rose as the dollar fell, with technology stocks leading the way, and Treasury Secretary Janet Yellen expressing optimism about a potential soft landing in the economy.
Wall Street stocks rose on Thursday as investors analyzed strong retail sales and wholesale price inflation data to gauge the Federal Reserve's stance on interest rates.
Stocks rise as reports suggest the US economy is strong, but inflation remains a concern.
Stocks climb as investors digest positive retail sales and producer prices data, with the Dow Jones Industrial Average up 0.7% and the S&P 500 and Nasdaq Composite both up 0.7% and 0.8% respectively.
Nvidia's stock has seen a 200% gain this year, highlighting the lucrative potential of the artificial intelligence trade.
Stocks surged as the Dow Jones Industrial Average rose, driven by strong performances from Goldman Sachs, Caterpillar, and Arm, while the tech-heavy Nasdaq and the S&P 500 also saw gains; strong consumer data and positive economic indicators contributed to the market's optimism.
US stocks traded higher on Friday as the S&P 500 and Nasdaq Composite recovered from recent declines, but they are still on track for a third-straight weekly decline due to rising bond yields and a stronger dollar following the Federal Reserve meeting.