Nvidia Earnings Fuel Tech Rally as Major U.S. Indexes Close Higher

Nvidia's blowout earnings report on August 27 lifted all four major U.S. indexes to close higher, fueled by the chip giant's impressive profit figures and forward revenue growth guidance that exceeded market consensus.

The Nasdaq Composite surged over 1.5%, while the Philadelphia Semiconductor Index soared more than 2.3%, with Nvidia being the strongest single driver of the broader market on the day.

The S&P 500 moved closer to its record high set earlier this month, and U.S. Treasury yields edged higher reflecting a rotation of capital out of safe-haven assets and back into risk assets.