US Stocks Rise Sharply on Thursday
US stocks surged on Thursday as strong results from Nvidia improved the fundamental view on AI services and infrastructure, while markets assessed a batch of mixed employment data.
The tech-heavy Nasdaq 100 surged nearly 2% and the S&P 500 advanced 1.7%, while the Dow added over 600 points. Nvidia rose 3.5% after beating sales expectations and signaling an optimistic outlook for their hardware, challenging concerns that high valuations in the sector are unwarranted and triggering a broad rebound for stocks.
AMD, Broadcom, and Oracle were over 3% higher. Also, Walmart jumped 3.5% after upgrading its guidance for this year's sales on stronger digital spending and higher sales to price-sensitive consumers.
Meanwhile, non-farm payrolls grew more than twice as expected according to the delayed September report, raising bets that the Federal Reserve will hold rates next month despite the increase in unemployment.
Source: Tradingeconomics
