Stock Indices Settle Higher as Nvidia Earnings Spur a Tech Stock Rally

Stock indices rose on Thursday as Nvidia earnings fueled a tech stock rally. The S&P 500 Index, Dow Jones Industrial Average, and Nasdaq 100 Index all closed higher. Nvidia's revenue growth forecast for fiscal 2028 exceeded expectations, spurring a rally in chipmakers and AI-related stocks. Sandisk and Kioxia Holdings' joint venture to boost flash memory production added to the positive sentiment.

Cybersecurity and software stocks also saw gains after Okta, CrowdStrike Holdings, and Salesforce reported positive earnings. Hawkish comments from Federal Reserve officials on interest rates weighed on bonds and T-notes, but strong Q2 earnings growth and a decline in US jobless claims lifted the markets.