On Thursday, the S&P 500 and Nasdaq Composite increased as investors rejoiced over Nvidia’s most recent quarterly reports. The United States’ AAA rating was placed on a negative rating watch by Fitch Ratings, which caused a decline in the Dow Jones Industrial Average.
The Nasdaq surged 1.5% while the S&P 500 increased by 0.6%. The Dow closed 106 points, or 0.3%, lower.
After the beneficiary of artificial intelligence provided stronger-than-expected sales guidance for its fiscal second quarter and also reported top and bottom-line improvements in the prior quarter, Nvidia shares increased 25%. Following the results, a number of analysts who monitor the stock increased their price estimates for the stock.
Source (CNBC)