Stocks
Nvidia Leads Tech Stocks Higher on Strong Earnings Report
The US stock market closed higher across the board on August 27, led by the Nasdaq. Nvidia's strong earnings report and optimistic revenue outlook drove a sharp rebound in tech, software, and select semiconductor stocks.
Nvidia surged nearly 9% to $227.98, serving as a primary driver of gains in the Nasdaq and S&P 500. The company's latest quarterly results and long-term revenue outlook alleviated market concerns over slowing AI chip demand.
Software and cybersecurity stocks also posted strong performance. Salesforce jumped 22.55%, driven mainly by robust financial results, raised full-year revenue and profit guidance, and its collaboration with Anthropic's Claude model.