Nvidia Fuels US Stock Rally with Strong Earnings

US stocks opened higher on Thursday, driven by strong earnings reports from major technology companies.

Nvidia led the gains with a 7% increase in its shares after beating analysts' expectations and reporting robust revenue growth.

The company's fiscal second-quarter revenue more than doubled, and it projects a 70% revenue growth in fiscal 2028, higher than the 44% expected by analysts surveyed by LSEG.

Other semiconductor stocks such as Broadcom and Marvell Technology also rose, along with AI-focused stocks like Okta, which saw its shares soar over 20% after beating analyst expectations.

The S&P 500 and Nasdaq Composite indexes gained 0.4% and 0.8%, respectively, while the Dow Jones Industrial Average was up 35 points or 0.1%.