S&P 500 Settles Higher Following NVIDIA Results; Market Volatility Decreases
Portfolio Pulse from Lisa Levin
The S&P 500 closed higher on Thursday, driven by a strong forecast from NVIDIA Corporation, which fueled a rally in AI-related stocks. NVIDIA's shares jumped 24%, sending the Philadelphia SE Semiconductor index to its highest level in over a year. Best Buy also reported better-than-expected quarterly earnings, and its shares gained 3%. The Nasdaq 100 jumped 2.46% amid gains in NVIDIA and Microsoft Corp shares.
May 26, 2023 | 9:38 am
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POSITIVE IMPACT
Best Buy reported better-than-expected quarterly earnings, resulting in a 3% gain in its share price.
Best Buy's better-than-expected earnings report directly led to a 3% increase in its share price. This positive news is likely to have a short-term positive impact on Best Buy's stock price.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Microsoft Corp shares contributed to the Nasdaq 100's 2.46% jump on Thursday.
Microsoft shares were mentioned as one of the contributors to the Nasdaq 100's 2.46% jump on Thursday. While not the sole driver, the positive performance of Microsoft shares is likely to have a short-term positive impact on its stock price.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
NVIDIA's strong forecast fueled a rally in AI-related stocks, with its shares jumping 24% and sending the Philadelphia SE Semiconductor index to its highest level in over a year.
NVIDIA's strong forecast directly led to a 24% increase in its share price and a rally in AI-related stocks. This positive news is likely to have a short-term positive impact on NVIDIA's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100