Nvidia Earnings Fuel Tech Sector Rally

Stock indices in the US settled higher on Thursday, with the S&P 500 Index rising by 0.72%, the Dow Jones Industrial Average up by 0.20%, and the Nasdaq 100 Index increasing by 1.43%. The rally was fueled by a strong earnings report from Nvidia, which saw its stock surge over 8% after announcing a revenue growth forecast for fiscal 2028 that exceeded expectations.

Chipmakers and AI-infrastructure stocks also gained traction, with the iShares Semiconductor ETF rising more than 1%. Other notable gainers included Intel, Broadcom, ARM Holdings, Lam Research, Microchip Technology, and Texas Instruments. The strong performance of Nvidia's earnings was expected to have a positive impact on the tech sector as a whole.

Meanwhile, cybersecurity stocks rallied after Okta and Crowdstrike Holdings reported better-than-expected earnings results. Okta's stock jumped over 28% after boosting its revenue forecast for 2027, while Crowdstrike Holdings' stock rose more than 20% after raising its adjusted operating income forecast.