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HomeTrading RoomNvidia Rallies Following Solid Earnings, while S&P 500 and Nasdaq Futures Rise

Nvidia Rallies Following Solid Earnings, while S&P 500 and Nasdaq Futures Rise

Thursday’s stock market gains were fueled by a sharp rise in Nvidia’s stock after the semiconductor titan revealed record sales and upbeat guidance.

S&P 500 futures increased by 1.3%, and Nasdaq 100 futures gained almost 2%. Futures correlated with the Dow Jones Industrial Average had a 0.4%, or 158 point, increase.

Premarket trading saw a roughly 13% increase in Nvidia shares after the company reported an astounding 265% increase in total revenue from the prior year, mostly driven by its booming artificial intelligence division. Surpassing already high expectations for significant growth, Nvidia, currently the fifth-largest corporation in the U.S. based on market capitalization, has anticipated another impressive revenue gain for the current quarter.

Source (CNBC)

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