U.S. stocks log best day in nearly 2 months amid Nvidia earnings optimism
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.
Topics
Posted 8/23/2023, 8:04:00 PM
marketwatch.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.
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.
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.
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.
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.
Nasdaq futures rally as Nvidia Corp.'s strong sales forecast and the ongoing hype around artificial intelligence boost tech stocks, with Nvidia's shares rising 7.9% in premarket trading and contracts on the Nasdaq 100 and S&P 500 signaling further gains for stocks.
Nvidia's stock reaches a new high as Wall Street analysts praise the company's strong earnings, which demonstrate that the artificial-intelligence industry is continuing to drive its growth.
Shares of Nvidia surged 6.7% to an all-time high after announcing a $25 billion stock buyback plan and reporting record quarterly revenue, driven by strong demand for its AI-focused chips.
Shares of Chinese e-commerce giants Alibaba and JD.com surged after the Chinese government announced measures to boost the country's capital markets, including halving the stamp duty on securities transactions.
Chinese stocks initially surged on Monday after the government implemented measures to boost investor confidence, but most of the gains were lost by the end of the session due to concerns about the country's economic slowdown and the foreign outflow of funds.
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.
Stocks gained momentum on Tuesday as new data pointed to a cooling labor market, with the S&P 500 and Dow Jones Industrial Average rising, bolstered by a decrease in job openings and a reversal in consumer confidence. The Nasdaq Composite led the gains, while the upcoming key reports on inflation and payrolls will likely shape investors' expectations for the Federal Reserve's interest rate decisions.
Stocks on the Nasdaq led gains on Wednesday as revised GDP data showed slower economic growth in the last quarter than previously estimated, while private-sector jobs in August came in weaker than expected, raising concerns about the Federal Reserve's interest rate hikes.
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.
Salesforce shares surged 6% in after-hours trading as the company exceeded Wall Street's expectations with strong quarterly results and increased guidance, driven by growth in all product categories and a focus on artificial intelligence.
US stocks opened higher on Thursday, supported by steady inflation and positive labor market data, with tech-heavy Nasdaq and S&P 500 both up 0.2% and the Dow up 0.4%, while investors anticipate a dovish Fed tilt.
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' 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.
The Nasdaq Composite has surged 33% this year, signaling the onset of a new bull market, and two growth stocks, Roku and MercadoLibre, present attractive investment opportunities due to their growth prospects and reasonable valuations.
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.
U.S. stocks rebounded as the week closed, with tech-heavy Nasdaq Composite and benchmark S&P 500 both up 0.1%, as concerns about higher interest rates were balanced by elevated oil prices and mixed economic data.
U.S stocks are recovering from losses, with the S&P 500 and Dow Jones Industrial Average both up 0.4%, as tech stocks lead the market higher and investors await key data on inflation this week.
Wall Street stocks surged on Monday as positive Chinese data and optimistic remarks from Treasury Secretary Janet Yellen boosted confidence in the global economy.
Tesla's stock surged 10% to reach its highest level in over a month after an upgrade from Morgan Stanley, which praised Tesla's Dojo supercomputer and predicted a potential $1 trillion market capitalization for the company.
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.
Arm shares surged 25% on its first day of trading on Nasdaq, boosting US stocks, while the European Central Bank's rate decision also contributed to positive market sentiment.
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.
U.S. stocks fell and Treasury yields surged ahead of the Federal Reserve's interest rate decision, while Instacart shares surged 12% on their first day of trading on the Nasdaq.
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.