Nasdaq Futures Rise 1% on Nvidia’s Sales Outlook: Markets Wrap
Futures for the tech-heavy Nasdaq 100 Index gained after Nvidia Corp. gave a bullish sales outlook, easing concerns that the artificial intelligence spending boom is losing momentum.
Nvidia Corp.'s optimistic sales forecast sent US equity-index futures and technology stocks soaring, sparking confidence that the artificial intelligence share rally has more growth ahead. Contracts for the tech-heavy Nasdaq 100 Index surged 1.2%, while those for the S&P 500 Index gained 0.6%. Nvidia's shares climbed 4.2% in extended trading, while other AI stocks such as Marvell Technology Inc. and SanDisk Corp. also benefited from the positive outlook.
Despite the gains, caution remained in bond markets as traders increased expectations of a Federal Reserve interest-rate hike this year due to persistent inflation above the Fed's target. The optimism surrounding Nvidia's outlook suggests that spending on AI infrastructure is still strong, alleviating concerns that the investment boom may be waning.
Written by urgent.news from The Economic Times - Top News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Global Market Today: Nasdaq futures, Asian stocks rise on Nvidia outlook economictimes.indiatimes.com
