Nvidia Boosts US Stocks Amid AI Earnings Optimism

The US stock market saw a positive mood on Thursday, driven by Nvidia's strong earnings and guidance, which alleviated concerns about the slowdown of AI hype. The Nasdaq led the gains, while the S&P 500 also rose, and the Dow Jones Industrial Average remained relatively quiet. According to the latest data, the Nasdaq gained 1.27% reaching 26,462.29, the S&P 500 rose 0.62% to 7,723.46, and the Dow climbed 0.29% to 53,621.56.

Technology stocks were the main drivers of the session, with Nvidia's strong performance benefiting the Nasdaq the most. The company's revenue doubled compared to last year, and management forecasted a 70% revenue growth for fiscal 2028, which was seen as positive news by investors.

The AI narrative extended beyond stock markets, as over 100 firms, including OpenAI and Microsoft, called for better defenses against AI-based attacks. Additionally, the Federal Reserve meeting in Jackson Hole and Fed Chairman Kevin Warsh's speech were key events to watch, as they could influence interest rates and inflation expectations.