US, European and Japanese markets hit all-time highs after chipmaker reignites AI optimism
Stock indices on three continents hit all-time highs on Thursday after a bumper earnings report from Nvidia sparked a powerful market rally and boosted shares of other technology companies. Shares in the chipmaker closed 16.4 per cent higher on Thursday after the quarterly results and new forecasts it published on Wednesday evening blew past analyst expectations. The S&P 500, Wall Street’s benchmark gauge, closed up 2.
” Nvidia’s market impact — it has been directly responsible for more than a quarter of the S&P’s year-to-date growth — has become so great that some investors and analysts were anticipating Wednesday’s financial report as a marketwide risk similar to the release of inflation data. Analysis by Citi earlier showed that traders in options markets were treating Thursday’s trading session as the joint largest “risk event” before next month’s Federal Reserve policy meeting.
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