ASX Edges Higher as Tech Stocks Rally
Nvidia’s 8.7% jump after earnings and a strong outlook lifted Wall Street technology shares, with Salesforce and CrowdStrike also posting big gains.
- The Nasdaq Composite climbed 1.57% to 26,541 yesterday as Nvidia's blowout earnings report fueled a significant tech rally across major stock market indexes.
- Nvidia reported sales and EPS up 106% and 128%, respectively, while its data center unit grew 117% for the 13th straight quarter of beating guidance.
- Enterprise software firms Salesforce and CrowdStrike soared 23% and 21% respectively, though Hormel Foods declined 10% after missing earnings expectations.
- Salesforce partnered with Anthropic to launch 'Claudeforce,' which CEO Marc Benioff said delivers a "dynamic interface that thinks, reasons, and acts" for enterprises.
- Strong earnings from CrowdStrike and Veeva Systems may have temporarily quelled 'SaaS-pocalypse' fears, as software stocks retool to benefit from AI rather than be disrupted by it.
12 Articles
12 Articles
By John Towfighi, CNN. The once-dominant tech giants are being eclipsed by the rising stars of the AI boom: semiconductor chipmakers. Nvidia shares surged nearly 9% on Thursday after the company reported strong results, showing it not only doubled its year-over-year sales but also reassured investors with its forecast of continued extraordinary growth. That boosted shares of other chipmakers and the broader market. The tech-heavy Nasdaq rose 1.5…
(New York = Yonhap News) Correspondent Lim Soo-jung = The New York stock market rose across the board on the 27th (local time) due to Nvidia's strong earnings and the subsequent rally in tech stocks.
Stock Market Today, Aug. 27: Tech Strength Powers Nasdaq Higher as Nvidia Leads Rally
Gaining 0.71% to 7,730, the S&P 500 (SNPINDEX:^GSPC) advanced alongside a 1.57% jump to 26,541 for the Nasdaq Composite (NASDAQINDEX:^IXIC) as chip strength led the rally, while the Dow Jones Industrial Average (DJINDICES:^DJI) rose 0.20% to 53,569.Today's biggest movesShares of Nvidia (NASDAQ:NVDA) climbed 8% following its blowout earnings report. Meanwhile, enterprise software firms Salesforce (NYSE:CRM) and CrowdStrike (NASDAQ:CRWD)also soare…
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Nvidia’s 70% Growth Outlook Powers Nasdaq Higher as AI Rally Regains Momentum
Nvidia’s stronger-than-expected growth forecast sent chip and technology shares higher Thursday, helping the Nasdaq surge 1.57% and lifting the S&P 500 even as much of ... The post Nvidia’s 70% Growth Outlook Powers Nasdaq Higher as AI Rally Regains Momentum first appeared on [your]NEWS.
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