Tech Rallies as Nvidia Surges on Strong Earnings, Markets Eye Fed Chair's Jackson Hole Address

Nvidia's robust earnings report and outlook lifted tech stocks on Thursday, propelling the benchmark U.S. indexes upward despite declines in other sectors.

The chipmaker's shares surged by 9% following its announcement of a 70% sales growth forecast for next year, signaling an ongoing AI spending boom that could have years left to run.

Fed Chair Kevin Warsh is set to address inflation and the Fed's operational framework in his keynote speech at Jackson Hole on Friday, with investors eager to understand how he intends to bring down long bond yields and restore credibility to the central bank.