S&P 500 Posts Two-Day Gain, Dow Rises 300 Points Ahead of Nvidia Report
US stocks closed higher on Wednesday (February 25th), extending gains from the previous session, with key support coming from technology stocks such as Nvidia and Oracle. This strengthening occurred as investors regained positive sentiment, although the market was still awaiting major catalysts from major technology companies' earnings reports.
The S&P 500 index rose 0.81% to close at 6,946.13, while the Nasdaq Composite gained 1.26% to 23,152.08. The Dow Jones Industrial Average added 307.65 points, or 0.63%, to end at 49,482.15.
Nvidia shares rose about 1.4% ahead of its earnings report, scheduled for release after market close, along with reports from software giants Salesforce and Snowflake. This event is in high demand as the market assesses Nvidia's report for providing the latest insights into the resilience of AI demand and the direction of technology infrastructure spending.
Nvidia's report comes at a time when investors are beginning to recalibrate already high tech stock valuations, amid growing caution regarding the massive AI capital expenditures (capex) of hyperscalers. Therefore, Nvidia's results and guidance have the potential to determine whether the tech rally continues or volatility increases again.
Source: Newsmaker.id
