Stronger-than-expected quarterly results and upbeat revenue guidance from Nvidia Corp. sparked a renewed surge in tech stocks on Thursday, as traders continue to exhibit bullish sentiment toward the rapidly expanding AI industry.
The chipmaker giant’s stock soared over 10% to $1,051 per share during midday trading in New York, boosting its market value by an astonishing $277 billion in a single session.
The tech-heavy Nasdaq 100 reached 18,907 points in early trading, setting a new all-time high. Similarly, the S&P 500 hit a record high of 5,341 points before paring gains as other sectors lagged behind tech.
The semiconductor sector clearly outperformed, with the VanEck Semiconductor ETF (NYSE:SMH) rising 3%. Besides Nvidia, Synopsys Inc. (NASDAQ:SNPS), ASML Holding N.V. (NASDAQ:ASML), and Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) saw significant gains, up 4.2%, 3.4%, and 2.6%, respectively.
However, broader market sentiment turned more cautious as S&P Global reported that although U.S. private sector activity grew at the fastest pace in nearly two years, input prices accelerated in May, reigniting inflation concerns.
Treasury yields climbed higher, …
Full story available on Benzinga.com
Stronger-than-expected quarterly results and upbeat revenue guidance from Nvidia Corp. sparked a renewed surge in tech stocks on Thursday, as traders continue to exhibit bullish sentiment toward the rapidly expanding AI industry.
The chipmaker giant’s stock soared over 10% to $1,051 per share during midday trading in New York, boosting its market value by an astonishing $277 billion in a single session.
The tech-heavy Nasdaq 100 reached 18,907 points in early trading, setting a new all-time high. Similarly, the S&P 500 hit a record high of 5,341 points before paring gains as other sectors lagged behind tech.
The semiconductor sector clearly outperformed, with the VanEck Semiconductor ETF (NYSE:SMH) rising 3%. Besides Nvidia, Synopsys Inc. (NASDAQ:SNPS), ASML Holding N.V. (NASDAQ:ASML), and Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) saw significant gains, up 4.2%, 3.4%, and 2.6%, respectively.
However, broader market sentiment turned more cautious as S&P Global reported that although U.S. private sector activity grew at the fastest pace in nearly two years, input prices accelerated in May, reigniting inflation concerns.
Treasury yields climbed higher, …
Full story available on Benzinga.com
Stronger-than-expected quarterly results and upbeat revenue guidance from Nvidia Corp. sparked a renewed surge in tech stocks on Thursday, as traders continue to exhibit bullish sentiment toward the rapidly expanding AI industry.
The chipmaker giant’s stock soared over 10% to $1,051 per share during midday trading in New York, boosting its market value by an astonishing $277 billion in a single session.
The tech-heavy Nasdaq 100 reached 18,907 points in early trading, setting a new all-time high. Similarly, the S&P 500 hit a record high of 5,341 points before paring gains as other sectors lagged behind tech.
The semiconductor sector clearly outperformed, with the VanEck Semiconductor ETF (NYSE:SMH) rising 3%. Besides Nvidia, Synopsys Inc. (NASDAQ:SNPS), ASML Holding N.V. (NASDAQ:ASML), and Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) saw significant gains, up 4.2%, 3.4%, and 2.6%, respectively.
However, broader market sentiment turned more cautious as S&P Global reported that although U.S. private sector activity grew at the fastest pace in nearly two years, input prices accelerated in May, reigniting inflation concerns.
Treasury yields climbed higher, …Full story available on Benzinga.com Read MoreAI, ASML, BA, CSWI, CVCO, DIA, Earnings Beats, Earnings Misses, ELF, ENS, Equities, Expert Ideas, HLNE, Inflation, INTU, Large Cap, LYV, Macro Economic Events, Macro Notification, Market Summary, MDT, Mid Cap, midday update, PAGS, PMI, QQQ, RL, ROST, Sector ETFs, SMH, SNOW, SNPS, SPY, STEP, Stories That Matter, TBBB, TLT, TSM, VFC, WDAY, XLE, XLK, XLU, Broad U.S. Equity ETFs, Commodities, Small Cap, Econ #s, Top Stories, Economics, Tech, ETFs, LYV, US5380341090, MDT, US5850551061, RL, US7512121010, DIA, US78467X1090, TSM, US8740391003, SMH, US8166362033, VFC, US9182041080, SPY, US78462F1030, TLT, US4642874329, QQQ, US73935A1043, XLE, US81369Y5069, WDAY, XLK, US81369Y8030, CSWI, XLU, US81369Y8865, STEP, ASML, USN070591862, SNOW, CVCO, US1495681074, ELF, INTU, US4612021034, HLNE, ROST, US7782961038, PAGS, SNPS, US8716071076, TBBB, BA, US0970231058, ENS, US29275Y1029, Earnings Misses, Market Summary, Macro Notification, Sector ETFs, Equities, Large Cap, Mid Cap, Macro Economic Events, Earnings Beats, Broad U.S. Equity ETFs, Commodities, Small Cap, Econ #s, Top Stories, Economics, Tech, ETFs, Benzinga Economics
