Nvidia Soars to Record High on Blowout Earnings, Fuels Broad Stock Market Rally
- US stocks surged to record highs powered by Nvidia's blowout earnings beat, with the Nasdaq up nearly 3%, S&P 500 up 2.2%, and Dow up 1.2%
- Nvidia stock jumped 16% to a record high after reporting 265% revenue growth and very upbeat guidance, signaling booming demand for AI hardware
- Nvidia added $277 billion to its market cap in a single day, the largest ever one-day gain for a company
- The tech rally spread globally, boosting Japan's Nikkei to finally top a 1989 record and driving the European Stoxx 600 to an all-time intraday high
- The Fed's latest minutes showed officials want to be cautious on rate cuts, but amid the market euphoria rate hike concerns were on the backburner