US Stocks Rise as Nvidia Boosts
The S&P 500 rose 0.5%, the Nasdaq gained 0.8% and the Dow Jones Industrial Average rose about 200 points on Thursday as traders digested Nvidia's earnings, key economic data and new tariff developments. Nvidia shares rose about 0.9% after the company reported better-than-expected revenue and earnings. Discretionary consumer goods, communication services and financials also traded higher. Economic data mostly pointed to continued resilience in the US economy, despite signs of a weak labor market and stubbornly high inflation.
Initial claims rose to a two-month high, while PCE prices rose more than expected in the final quarter. However, durable goods orders surprised with an increase, and GDP growth was confirmed at 2.3%. Meanwhile, President Trump reiterated that 25% tariffs on Canada and Mexico will go into effect next week and announced plans to impose an additional 10% tax on Chinese imports. On the downside, Salesforce fell 4.6% after issuing disappointing revenue guidance
Source: Trading Economics
