DJIA Rises on Tech Rally, Led by Nvidia and Salesforce

The Dow Jones Industrial Average (DJIA) rose by 0.33% on Thursday, driven primarily by strong earnings reports from Nvidia and Salesforce. Nvidia's revenue grew 106% to $96.2 billion, exceeding analysts' estimates of $92.2 billion.

The semiconductor giant also reported an adjusted EPS of $2.22 compared to the estimate of $2.10. Furthermore, Nvidia guided for fiscal year 2028 revenue growth of 70%, far surpassing expectations of 44%.

Salesforce's customer relationship management platform reported revenue of $11.35 billion, slightly above the estimate of $11.32 billion. The company's adjusted EPS was $5.90, significantly higher than the expected $3.27. Salesforce's earnings were boosted by a $2.6 billion gain on AI startup Anthropic.

Meanwhile, initial jobless claims for the week ended August 22 fell by 4,000 to 203,000, below the consensus estimate of 208,000. Continuing jobless claims also decreased, falling by 18,000 to 1.778 million, below expectations of 1.792 million.