The session results indicate that the Dow Jones Industrial Average rose 0.32%, the tech-heavy Nasdaq increased by 0.21%, and the broad S&P 500 index advanced by 0.24%, enabling it to reach a new closing high of 6,481.40 points.
“Investors fluctuated throughout the day. The gains were not significant, but notably, there was no interest in selling today,” emphasized Patrick O’Hare, an analyst at Briefing.com, in a statement to AFP.
In his view, this suggests that “investors awaited Nvidia’s results with calm and confidence”—Nvidia closed down by 0.09%—which were set to be released after the market closed.
In recent years, Wall Street has been buoyed by the hype around AI. Nvidia, which supplies semiconductors to this rapidly growing industry investing billions of dollars in development, is a key player in this movement.
In fact, in July, Nvidia became the first company to surpass the symbolic threshold of four trillion dollars in market capitalization.
The issue at hand is substantial, and “if Nvidia only meets estimates, that will be seen as a disappointment,” predicted O’Hare.
However, what’s crucial is “what the company says about its prospects,” and if these “turn out to be better than expected, investors will maintain an optimistic stance,” he added.
