Nvidia, Jobs Report Boost US Stocks

US stocks surged on Thursday, driven by strong earnings from Nvidia and renewed hopes for interest rate cuts. The tech-heavy Nasdaq Composite led the charge, climbing by about two and a half percent, while the broader S&P five hundred increased by over one point eight percent. Even the Dow Jones Industrial Average, with fewer tech companies, rose by one point three percent, adding more than five hundred points to its value. Nvidias stock jumped by nearly five percent after reporting better-than-expected earnings and a strong revenue outlook for the fourth quarter. The US economy added one hundred and nineteen thousand jobs in September, causing a shift in expectations for interest rate cuts. The probability of a rate cut at the Federal Reserves next meeting in December increased to around forty-two percent. Walmart also had a good day, raising its full-year forecasts after beating profit and sales expectations in the third quarter.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.