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HomeLatest NewsThe Nasdaq rises 2.96% driven by the historic rise signed by Nvidia

The Nasdaq rises 2.96% driven by the historic rise signed by Nvidia

Date: April 21, 2024 Time: 20:59:25

Wall Street up 16% in the stock market.

At the end of the session on the New York Stock Exchange, the Nasdaq index, where the main technology companies are listed, rose above all others, with a powerful 2.96%. As for the selective S&P 500, it also rose 2.11% and stood at 5,086 points, touching a new historical record.

Nvidia announced this Wednesday its results for fiscal year 2023, a record year in profit that multiplied its net profit by six thanks to the advance of Artificial Intelligence (AI). The company recorded its best figures due to the growing demand around AI: an accumulated profit of 29,760 million dollars, about 27,508 million euros (581% more than the 4,368 million dollars in 2022) and a turnover of 60,922 million dollars (126% more), according to a company statement.

The company led by Jensen Huang, which has been revealing how its turnover skyrocketed each quarter, also recorded records in the fourth and final stretch of the year: a profit of 12,285 million dollars (769% more) and a turnover of 22,103 . million dollars (265% more).

Nvidia’s contagion effect was noticeable in the other large technology companies, such as Meta (3.87%), Amazon (3.55%), Microsoft (2.35%) and Netflix (2.65%). This buying fever for the biggest stars of the moment on Wall Street will silence for the moment the rumors of recent days that Nvidia was overvalued and that the entire technology sector was beginning to take on the appearance of a great financial bubble.

By sector, green was the dominant trend on Wall Street, with a spectacular 4.35% rise in technology, followed by non-essential goods (2.19%). Among the 30 listed companies in the Dow Jones, green companies also dominated, and beyond the technology giants, the increases in Salesforce (3.56%) and IBM (2.51%) stood out, among the losers, Intel is worth mentioning. (-1.13%). ).

In addition, Texas oil rose to $78.61 per barrel, and at the close of the stock market gold remained stable at $2,034.5 per ounce, and the dollar lost ground against the euro, with an exchange rate of 1. 0819.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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