Technology stocks led Wall Street on Thursday after Nvidia, Salesforce and others reported even fatter profits for the spring than analysts expected.
- The Dow rose 105.56 points, or 0.2%, to 53,569.44.
- The S&P 500 rose 55.29 points, or 0.7%, to 7,730.99.
- The Nasdaq rose 411.16 points, or 1.6%, to 26,541.35.
Nvidia was the strongest force pulling the market higher, and the chip giant rallied 8.7% after once again delivering stronger profit and revenue for the latest quarter than analysts expected, the AP reports. More important for Wall Street, it also gave forecasts for upcoming revenue growth that topped analysts' estimates, suggesting demand remains strong for chips to power artificial intelligence projects. Another big tech company, Salesforce, jumped 22.6% after it said that AI helped it deliver one of its best quarters in history. It reported stronger profit than analysts expected. Salesforce, which helps companies manage their customers' data, also raised its forecast for revenue over the full year and announced an expanded partnership to pair Anthropic's Claude chatbot with its platform. Salesforce's stock had its best day in six years.
Elsewhere, trends were more mixed across big US companies, and the majority of stocks within the S&P 500 fell. HP sank 2.9% even though it topped analysts' expectations for profit and revenue in the latest quarter. Analysts pointed to worries about its sales of personal computers, as well as how higher prices for computer memory and other commodities are pressuring its profit margins. Best Buy and some other retailers sank amid continued worries that shoppers could be stretched because of high inflation and discouragement about the economy. Best Buy fell 4.4% even though it topped analysts' expectations for both profit and revenue in the latest quarter. Dollar General rose 2.5% after reporting a stronger profit for the latest quarter than analysts expected. But rival Dollar Tree sank 3.9% despite blowing past profit expectations.
,
uBlock 
,
and
Ghostery 
)
