Two out of three US stock market indices opened higher on Thursday, led by the Nasdaq composite trading in the green off of the heels of Nvidia's quarterly earnings data, bringing and upbeat mood to the markets.
Minutes into trade, the Dow Jones Industrial Average was down by 0.1% or 50 points while, the S&P 500 saw a 0.4% increase, the Nasdaq Composite was up by 0.9%, boosted by positive sentiment stemming from Nvidia's earnings.
Nvidia's positive finanical earnings data for the second quarter of FY27, indicated that the firm had more than doubled its revenue compared to the same period in the previous year, leading to bullish investor sentiment in the Nasdaq indices. The firm also projected 70% growth in its revenue for the financial year 2028.
Nvidia was up by 7.19% or 15.07 points to trade at $224.73.
The price of oil also saw an increase with Brent crude trading at a 1.12% uptick or 0.97 points higher to $87.91 per barrel at 7:37 p.m. IST.
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Semiconductor shares traded lower during trade, with Marvell Technology seeing a 0.44% decline or a decrease by 1.09 points to $244.02. Micron Technology's share price was trading lower at a downturn of 0.21% or 2 points to $936.40. Arm Holdings. however, saw a 5.54% increase by 13.91 points to $264.97 points.
Advanced Micro Devices (AMD) was down by 1.08% or 5.21 points to $475.12 points. SanDisk Corp. was at a downturn of 1.92% or 28.79 points lower to $1,470.58.
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