Will Nvidia’s stock price continue to rise?
The stock price of Nvidia, a dominant AI chip maker, is rising again after QI posted $26 billion in revenue, more than $1,000 per share.
Strong corporate earnings and technology shares boosted Wall Street at the open on Wednesday, with the broader S&P 500 index closing at a record high.
Shares of Netflix hit a record high after the streaming giant reported a blowout quarter. Oracle, Nvidia and Microsoft and other artificial intelligence-related stocks rose after the leaders of SoftBank, Oracle and OpenAI announced the Stargate AI venture with President Donald Trump.
As of 10:10 AM ET, the S&P 500 was up 0.65%, or 39.48 points, at 6,088.72. The blue-chip Dow rose 0.34 percent, or 151.45 points, to 44,177.26; And the tech-heavy Nasdaq rose 1.28 percent, or 252.64 points, to 20,009.42. The benchmark 10-year Treasury yield was unchanged at 4.574%.
Corporate news.
Positive reports from the company boosted the stock market. News items included:
- Netflix shares neared $1,000 each in early trading, a record, after topping the company’s quarterly revenue estimates, gaining nearly 19 million new subscribers, and its 2025 revenue forecast. I increased. It is also increasing its subscription prices. The company’s all-time high closing share price is $936.56, reached on Dec. 11, according to Dow Jones Market data.
- SoftBank, Oracle and OpenAI have announced that, in the presence of Trump, US Nvidia, Microsoft and Arm Holdings have pledged $500 billion in AI investment that will be involved in building the infrastructure for the joint venture, which called Stargate. The shares of all these companies were high.
- Procter & Gamble’s quarterly earnings topped analysts’ estimates, helped by strong demand for household goods such as toilet paper and laundry products. Shares rose 2.75 percent.
On the downside, Johnson & Johnson fell 3 percent after the drugmaker cited headwinds for the year, including Medicare changes and a strong U.S. dollar that will hurt overseas sales. It reported better-than-expected quarterly revenue and profit on higher sales of cancer drugs and some medical devices, but its full-year sales forecast fell short of expectations.
What about Trump’s tariffs?
Analysts said that after Trump’s soft tone on tariffs, investors have put those worries behind them to focus on company news.
Before Monday’s inauguration, people worried that big, blanket tariffs across the board would slow inflation and the economy. Instead, “broad and immediate tariffs were not announced, but President Trump directed the administration to study multiple paths and options,” Morgan Stanley economists wrote in a note Tuesday.
Trump’s comments late Tuesday about a possible 10% tariff on Chinese imports from February 1 also did little to move markets.
“This latest number (of 10%) is lower than threats in the months leading up to this point, indicating that Trump is open to increased caution,” said Elizabeth Renter, senior economist at NerdVault. “
Bitcoin volatility
Bitcoin fluctuated between losses and gains, falling 1.29% to $104,827.80.
But some analysts were generally bullish.
Marion Lieber, an analyst at Deutsche Bank, said, “We expect the price of bitcoin to remain elevated due to a more favorable regulatory and political environment in the US, increased institutional authority, and a reduction in Fed monetary policy. “
Medora Lee is a money, markets and personal finance reporter at USA TODAY. You can reach it. mjlee@usatoday.com And Subscribe to our free Daily Money newsletter. Every Monday through Friday morning for personal finance tips and business news.
