Technology stocks led Wall Street after Nvidia, Salesforce and others reported fatter profits for the spring than expected. The S&P 500 rose 0.7% Thursday and pulled closer to its record set earlier this month. The Dow Jones Industrial Average added 0.2%, and the Nasdaq composite climbed 1.6%. Nvidia was the strongest force lifting the market and helped offset drops for the majority of the stocks within the S&P 500. The chip giant not only blew past analysts’ expectations for profit but also gave a better-than-expected forecast for revenue growth. That helped calm worries dogging the broader AI industry. Treasury yields ticked higher.
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