The technology-heavy Nasdaq saw a strong start and a nearly 3% increase on Thursday due to positive results from Nvidia, a leader among top tech stocks. With solid gains throughout the day, the index closed above 16,000, gaining more than 460 points and closing at 16,041.62.
Nvidia, with its outstanding shares reaching 2.47 billion, saw a record increase in wealth for its shareholders, adding over $273 billion on Thursday. This surpassed Meta Platforms’ gain of $204.5 billion on Feb. 2.
Strong gains were also seen in the semiconductor sector, with VanEck Semiconductor jumping over 6% on Thursday, hitting a new all-time high along with Nvidia. The sector has seen a 20% increase so far this year.
The S&P 500 also experienced a bullish rally, jumping 2.1% to close at 5,087.03, outperforming the Dow Jones Industrial Average. The Invesco S&P 500 Equal Weight ETF rose 1%, showing solid breadth in Thursday’s market movement.
In commodity trading, oil prices rose 1.3%, while natural gas futures slipped 2.6%. Gold remained flat at $2,034 an ounce.
Overall, the stock market saw increased volume, indicating growing interest from institutional investors. The Russell 2000 and Dow Jones transportation average both saw positive gains, showing healthy demand in areas outside of the tech sector. Businesses like Quanta Services and Nordson also saw significant breakout movements in their stock prices.
