Stock Market Reclaims Record Highs, Nvidia Tops $1,000 As AI-Driven Rally Resumes: Thursday's Top Movers

On Thursday, Wall Street opened the session with significant milestones as the S&P 500 and the Nasdaq 100 indices surged to new record highs. This rebound was driven by Nvidia Corp. NVDA, which soared 9% to $1,034 per share following outstanding earnings results and optimistic guidance.

The chipmaker reported $26 billion in revenue for the last quarter, a 262% increase from the same quarter last year, surpassing the expected $24.6 billion. Notably, AI-driven Data Center revenue skyrocketed by 427% year-over-year.

The SPDR S&P 500 ETF Trust SPY gained 0.3% to reach $531 at 09:45 a.m. EDT, while the tech-heavy Invesco QQQ Trust QQQ rose 0.7%, both achieving record highs.

In contrast, underperformance in technology stocks impacted the blue-chip index, with the SPDR Dow Jones Industrial Average DIA falling 0.4%. Small-cap stocks were slightly weaker, with the iShares Russell 2000 ETF IWM down 0.1%.

Sector-wise, technology stocks led the gains, with the Technology Select Sector SPDR Fund XLK increasing by 0.6%.

In the industry segment, semiconductor stocks were the top performers, with the VanEck Semiconductor ETF SMH and the iShares Semiconductor ETF SOX rising 3.1% and 1.7%, respectively.

Read also: Nvidia’s Success May Propel These 6 AI-Related Stocks To New Heights

S&P 500’s Top Gainers;

Nasdaq 100’s Top Gainers:

Read now: Why Micron, Broadcom And Lam Research Shares Are Moving Higher Thursday

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