Nvidia Earnings Boost Tech Sector, Stocks Rally

The stock market is experiencing a rally today due to stellar earnings from Nvidia. The S&P 500 Index is up by +0.39%, the Dow Jones Industrial Average is up by +0.08%, and the Nasdaq 100 Index is up by +0.84%. E-mini S&P futures are up +0.30%, and September E-mini Nasdaq futures are up +0.71%.

Nvidia's Q2 revenue of $96.22 billion exceeded consensus expectations, with a projected fiscal 2028 revenue growth of about 70%. The iShares Semiconductor ETF is up as chipmakers and AI-infrastructure stocks surge following Nvidia's earnings report. Key players in the sector include ARM Holdings (ARM), Intel (INTC), and Broadcom (AVGO).

Other sectors also saw gains today, with software stocks climbing after Salesforce forecasted Q3 revenue above consensus. Cybersecurity stocks were stronger as well, following better-than-expected earnings from Okta and Crowdstrike Holdings.