Stocks Rally as Nvidia Earnings Boost AI Optimism

The S&P 500 Index ($SPX) (SPY) is up by +0.39% today, the Dow Jones Industrial Average ($DOWI) (DIA) is up by +0.08%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up by +0.84%. E-mini S&P futures (ESU26) are up +0.30%, and September E-mini Nasdaq futures (NQU26) are up +0.71%.

Stock indices are moving higher today, with the S&P 500 and Nasdaq 100postign 1-week highs. Stellar earnings from Nvidia are powering technology stocks higher today. Nvidia is up more than +6%, leading chipmakers and AI-infrastructure stocks higher after issuing a revenue growth forecast for fiscal 2028 far above expectations. Also, a $31 billion joint venture between Sandisk and Kioxia Holdings to ratchet up flash memory production added to the bullish tone in technology stocks. In addition, cybersecurity stocks are stronger today after better-than-expected earnings from Okta and CrowdStrike Holdings, and software stocks are climbing after Salesforce forecast Q3 revenue above consensus.