The S&P 500 gained in a choppy session after strong earnings results from Nvidia, the world’s largest chipmaker by market value, and various retailers. The Dow fell 0.17%. The S&P 500 gained 0.34%. The Nasdaq was up 0.45%.
and issued a bullish revenue forecast for the current quarter ending in January. The chipmaker saw a 55% gain in data center sales from the same period a year ago and a 42% increase in gaming, its biggest market.
Investors moved into tech stocks broadly as U.S. Treasury yields took a dip of roughly 2 basis points. Scott Brown, technical strategist for LPL Financial, noted the S&P 500 Information Technology sector has gained 27% in the past six months, outperforming the broader S&P 500 by more than 10%. In other tech moves, Apple jumped 2.5% to an all-time high after Bloomberg reported the company is refocusing its electric vehicle efforts on self-driving capabilities. Amazon gained 3% as its first cashierless coffeeshop, which it partnered on with Starbucks,. It also got a lift from continued positive momentum in retail, particularly in digital.
Similarly, Kohl's saw gains in same-store sales growth and digital. Its shares added more than 7%. JD.com, China's largest online retailer, advanced about 5% on strong revenue and earnings.
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