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Nvidia earnings beat expectations, stock market returns to upward trend📢
After weeks of selling pressure, the stock market is clearly happy to see a trend in risk appetite, with the S&P 500 rising more than 1%, led by technology stocks and real estate stocks. Technology stocks have risen before Nvidia's earnings report, and Nvidia's earnings results even exceeded gave the most optimistic forecast, leading the index to continue to rise by 0.8% after the bell.
Nvidia's results were well above market expectations, mainly due to exceptionally strong data center business performance, and management remains optimistic about the outlook for AI-led chip demand, driving the stock price up 7% after the market. The stock has joined Apple and Amazon has become one of the most important indicator stocks in the entire SPX index.
From a technical perspective, the SPX index seems to have successfully broken through the downward channel in August and may rise further as bonds rise; the market focus will then focus on Chairman Powell's speech tomorrow morning, especially whether he will continue to rise. Showing a strong attitude towards high terminal interest rates.
