Nasdaq jumps more than 1.5% as tech soars on Nvidia’s stellar results, guidance

On Thursday, the Nasdaq surged more than 1.5% as tech stocks soared due to Nvidia's impressive quarterly results. Nvidia, the world's largest company, reported a staggering 106% year-over-year revenue growth, driven by soaring demand for its hardware as the AI infrastructure boom continues. The company forecasted 70% year-over-year revenue growth for fiscal year 2028, despite supply constraints that could impact gross margins.

The tech-heavy Nasdaq Composite jumped 1.6% to 26,544.02 points, while the S&P 500 rose 0.8% to 7,739.62 points and the Dow Jones Industrial Average climbed 0.4% to 53,670.37 points. Keith Lerner, chief investment officer at Truist, stated that tech remains the dominant theme of the current bull market, with the S&P 500 technology sector alone rising more than 3%.

Nvidia's results and guidance have reinforced this view, with the company seeing strong demand even beyond the major hyperscalers. However, investors are now cautious, anticipating a potential tug-of-war in the near term as macro risks such as inflation, interest rates, and Federal Reserve policy come back into focus.