The Nasdaq Composite climbed 0.8% on Thursday, leading gains across major U.S. stock indexes after Nvidia delivered a stronger-than-expected earnings report and offered an upbeat revenue outlook. The S&P 500 gained 0.4%, while the Dow Jones Industrial Average edged up 35 points, or 0.1%, as investors responded positively to fresh signals from the technology sector.
Nvidia was at the center of the market move, with its shares jumping about 6% after the chipmaker beat analysts’ expectations and pointed to strong future growth. The company’s fiscal second-quarter revenue more than doubled, while analysts now expect Nvidia’s revenue growth to reach about 70% in fiscal 2028, significantly above the 44% growth previously projected by LSEG-surveyed analysts.
The upbeat Nvidia revenue outlook also lifted other semiconductor stocks, giving the wider chip sector a boost. Arm rose 3%, Marvell Technology gained nearly 2%, and Micron Technology added about 1%. The gains suggest that investor confidence in the artificial intelligence boom remains strong, despite ongoing concerns about whether massive AI spending can continue at its current pace.
Technology stocks beyond the chip sector also posted strong gains. Salesforce jumped 13% after reporting second-quarter revenue above Wall Street expectations, while Okta surged more than 20% following better-than-expected results and strong demand linked to agentic artificial intelligence. The rally comes as investors continue to closely watch corporate earnings for clues about whether the technology sector can maintain its momentum.
Attention now turns to the Federal Reserve’s annual Jackson Hole symposium, which begins Thursday in Wyoming. With markets already reacting to a busy earnings season, investors will be looking for clues about the U.S. economy and future interest-rate policy. For now, Nvidia’s latest outlook has given technology stocks a fresh boost and helped push the Nasdaq higher.
source: cnbc
