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Indexes rose Thursday, driven by a rally in chip stocks, particularly Nvidia, which gained 3% after CEO Jensen Huang unveiled new AI products at CES. Micron Technology also saw a 6% increase as it partners with Nvidia on AI-powered gaming chips. Investors are awaiting key economic data later this week, including job reports.
US stocks showed modest gains on Tuesday, with the S&P 500 and Dow Jones Industrial Average each rising 0.3%, while the Nasdaq added 0.2%. Nvidia's CEO unveiled a new AI superchip, boosting shares by 2% and rallying chip stocks. Investors await JOLTS job openings data, which could influence interest rate discussions amid ongoing uncertainty regarding Donald Trump's tariff policies.
Wall Street anticipated a muted open Tuesday after the S&P 500 and Nasdaq saw gains for two consecutive sessions, driven by tech stocks, particularly Nvidia, which hit a record close. At CES, CEO Jensen Huang showcased new AI applications, including a real-world foundation model called Cosmos and an AI-driven video game chip, potentially igniting the AI PC movement. He also highlighted Nvidia's partnership with Toyota for self-driving technology, boosting shares of both companies, while Aurora Innovation surged over 35% following its collaboration with Nvidia.
Stock futures showed slight gains as the S&P 500 and Nasdaq aim for a third consecutive winning session. Nvidia's shares rose 2% following CEO Jensen Huang's keynote at CES 2025, while Micron gained 4% after being highlighted in the presentation. Bitcoin traded at $100,700, and gold futures increased by 1% to around $2,675 an ounce. Investors are anticipating the December jobs report, which could influence the Federal Reserve's interest rate decisions.
U.S. stock futures are little changed following a mixed session, with Nasdaq futures dipping slightly. Nvidia shares hit an all-time high after strong AI demand and CEO remarks, while Uber's stock rose on a collaboration with Nvidia for autonomous driving technology. Inari Medical soared 30% after being acquired by Stryker for $4.9 billion, while Tencent's stock fell 7% after being added to the Pentagon's "Chinese military companies" blacklist.
Intuitive Surgical saw a 0.3% premarket rise, while Tesla's stock dipped 1.7% after a recent surge. Nvidia reached record highs following new AI initiatives unveiled at CES 2025, contributing to a positive trend in the Dow Jones and other major indexes ahead of key employment data. Apple's stock faced a downgrade, impacting its performance, while Microsoft and Amazon also showed slight gains. Notable stocks near buy points include BlackRock, Disney, TSMC, and Fortinet, as the market anticipates the Labor Department's job openings report.
US stock futures showed modest gains as investors reacted to Nvidia's AI announcements and awaited JOLTS job data. The S&P 500 rose 0.1%, while Dow futures increased by 0.2%. Nvidia shares climbed over 2% following the unveiling of a new AI superchip, boosting chip stocks like Micron Technology. Market participants are also focused on Donald Trump's tariff plans, with the dollar weakening. Upcoming job openings data will influence interest rate discussions ahead of Friday's crucial jobs report.
Dow futures are struggling as traders await jobs data. Nvidia shares rose 1.5% following CEO Jensen Huang's positive CES speech, while Micron Technology stock surged nearly 6% after being mentioned as a memory supplier for Nvidia. Carvana and Uber Technologies also saw gains of 4% and over 3%, respectively, with Carvana's rating upgraded and Uber collaborating with Nvidia on autonomous-driving technology.
Stocks are set to open higher, with Nvidia's shares rising following the launch of its next-generation gaming graphic cards. Micron also saw a boost after Nvidia's CEO announced that the company will supply memory for these GPUs, indicating strong collaboration in the tech sector.
Asian shares mostly rose, buoyed by a Wall Street rally led by Nvidia, with Japan's Nikkei 225 jumping 2.4%. U.S. Steel gained 8.1% after filing a lawsuit against the Biden administration's block of its merger with Nippon Steel, which fell 1.5%. Investors are eyeing potential policy shifts under incoming President Donald Trump, while the Federal Reserve's upcoming minutes and economic reports could influence market sentiment.
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