Wall Street opened Thursday with the S&P 500 and Nasdaq 100 soaring to record highs, marking key milestones. The driving force behind this rebound was NVIDIA Corporation (NASDAQ:NVDA) surged 9% to $1,034 per share on the back of strong earnings results and optimistic guidance.
The chipmaker reported revenue of $26 billion last quarter, up 262% from the same period last year and beating expectations of $24.6 billion, with AI-driven data center revenue in particular surging 427% year over year.
of SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.3% to $531 at 9:45 a.m. EDT, while tech stocks Invesco QQQ Trust (NASDAQ:QQQ) rose 0.7%, both hitting new all-time highs.
In contrast, the weakness in tech stocks weighed on blue-chip indexes, with the SPDR Dow Jones Industrial Average (NYSE:DIA) down 0.4%. Small-cap stocks are a little weak; iShares Russell 2000 ETF (NYSE:IWM) fell 0.1%.
By sector, technology stocks led the gains. Technology Select Sector SPDR Fund (NYSE:XLK) rose 0.6%.
Semiconductor stocks were the top performers in the industry sector. VanEck Semiconductor ETF (NYSE:SMH) and iShares Semiconductor ETF (NYSE:SOX) rose 3.1% and 1.7%, respectively.
Read also: Nvidia’s success could propel 6 AI stocks to new heights
Top Gainers on the S&P 500;
|
# |
name |
last |
Rate of change |
|
1 |
NVIDIA Corporation |
1,035.29 |
9.04% |
|
2 |
Super Microcomputer Corporation (Nasdaq:SMCI) |
945.76 |
8.30% |
|
3 |
Advanced Micro Devices, Inc. (NASDAQ:AMD) |
171.45 |
3.58% |
|
Four |
Applied Materials, Inc. (NASDAQ:AMAT) |
223.68 |
2.53% |
|
Five |
international paper company (NYSE:IP) |
43.15 |
2.48% |
Updated 9:51 a.m. EDT
Top gainers on the Nasdaq 100:
|
# |
name |
last |
Rate of change |
|
1 |
NVIDIA Corporation |
1,029.68 |
8.44% |
|
2 |
PDD Holdings Co., Ltd. (Nasdaq:PDD) |
153.70 |
4.49% |
|
3 |
ASML Holding NV (NASDAQ:ASML) |
957.89 |
3.86% |
|
Four |
Advanced Micro Devices, Inc. |
169.50 |
2.41% |
|
Five |
Applied Materials, Inc. |
223.06 |
2.25% |
Updated 9:53 a.m.
Read now: Why Micron, Broadcom and Lam Research stocks are rising on Thursday
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The article “Stocks hit new record highs, Nvidia tops $1,000 as AI-driven rally resumes: Top movers on Thursday” originally appeared on Benzinga.com.
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