The case is updated!
Nvidia was in the spotlight on Thursday after it announced that revenue for the current quarter will be more than 50 percent higher than the estimates of Wall Street analysts.
The stock shot up 24.37 percent to $379.80 and is close to becoming the first chipmaker with a market value of $1 trillion.
Other semiconductor stocks followed, including Advanced Micro Devices and Taiwan Semiconductor (TSMC)which rose by 11.1 per cent and 11.9 per cent respectively.
– What we see today is an extension of the existing trends which are further reinforced by Nvidia’s news. It’s a tale of two markets, with the winners extending their lead and the losers compounding their losses on a relative basis, Dylan Kremer, chief investment officer at Certuity, told CNBC.
On Thursday, the S&P 500 rose 0.88 percent to 4,151.31, while the technology index Nasdaq rose 1.71 percent to 12,698.09. Industry-heavy Dow Jones fell 0.1 percent to 33,765.58.
The volatility index – VIX – fell 6.19 percent to 18.79, while ten-year US Treasury bonds rose to 3.81 percent.
Movements
Facebook owner Meta, Amazon, Netflix, Apple and Alphabet (also known as the FAANG stocks), had a mixed day on the stock exchange on Thursday:
- Facebook rose 1.40 percent to $252.69.
- Amazon fell 1.50 percent to $115.00.
- Apple rose 0.67 percent to $172.99.
- Netflix fell 1.60 percent to $359.00.
- Alphabet rose 2.13 percent to $123.48.
Tags: Nvidia Rally Wall Street Finansavisen
