Nvidia Outlook Lifts Tech Stocks as Wall Street Nears Record
Cue Writer
Technology shares led Wall Street higher Thursday after Nvidia, Salesforce and other companies reported stronger-than-expected spring profits, according to the Associated Press.
The S&P 500 rose 0.6%, moving closer to the record it set earlier this month. The Dow Jones Industrial Average added 187 points, while the Nasdaq composite gained 1.2%.
Nvidia was a major driver of the advance after the chipmaker again exceeded analysts’ profit expectations and issued a revenue-growth forecast that topped Wall Street estimates. The outlook helped ease investor concerns about whether the broader artificial-intelligence investment boom can sustain its momentum.
Salesforce and other technology companies also added to the upbeat tone. Treasury yields were relatively steady, leaving investors focused on corporate earnings and the durability of demand for AI-related products and services.
For investors in the U.S. Virgin Islands and elsewhere, the session underscored how a small group of large technology companies can continue to shape broad-market performance. The next tests will be whether companies can translate heavy AI spending into sustained revenue and whether the wider economy supports that growth.
Source: Associated Press