Tuesday, May 30, 2023
HomeTrading RoomNvidia Drives The Tech Boom, Lifting The S&P and Nasdaq

Nvidia Drives The Tech Boom, Lifting The S&P and Nasdaq

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)

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