Nvidia and other tech stocks lead Wall Street higher
AP News • • business
Key Points:
- U.S. stocks rebounded Wednesday, with the S&P 500 rising 0.8%, the Dow Jones gaining 307 points (0.6%), and the Nasdaq climbing 1.3%, led by strong performances from Nvidia and other tech companies.
- Nvidia's latest quarterly profit exceeded analyst expectations, and the company forecasted approximately $78 billion in revenue for the upcoming quarter, significantly higher than the $72.3 billion anticipated.
- Despite ongoing concerns about AI-related spending and its impact on productivity, solid profit growth in various U.S. companies, including smaller firms like Cava Group and Axon Enterprise, helped offset market worries.
- Some stocks, such as First Solar and Lowe’s, declined due to weaker
