The AI trade regained momentum on Thursday as Nvidia's upbeat revenue forecast reassured investors that demand for artificial intelligence remains strong, lifting technology stocks and pushing the Nasdaq to a fresh gain. The focus now shifts from the chipmaker's results to Federal Reserve Chair Kevin Warsh's first Jackson Hole speech, where investors will look for clues on the path for interest rates.
The Nasdaq Composite gained 1.57% to 26,540.78, while the S&P 500 rose 0.72% to 7,730.73, according to preliminary data. The Dow Jones Industrial Average added 0.19% to 53,564.21.
