Stock markets had another great day today, with Nvidia stock performance being remarkable, rising by $108 or around 16%. This resulted in a substantial increase in its market capitalization by $277 billion. This surge represents one of the largest single-day gains for any stock, surpassing previous records by a significant margin.

The surge in Nvidia’s stock price can be attributed to its strong financial performance, particularly in its fiscal fourth quarter. The company reported impressive sales of $22.10 billion, marking a substantial increase of 265% year over year. Furthermore, its net income saw a significant rise of 770%.

Nvidia Stock Chart – Daily Timeframe

This has boosted the Nvidia stock, but it also sparked renewed interest in AI technologies and equities markets. Stock markets also experienced a positive day, with the S&P 500 increasing above 5,000 points again and heading for 5,100. Now investors are watching for the release of Booking Holdings Inc.’s (BKNG) earnings after hours. As a result of Nvidia shares performance and the positive market sentiment, the Nasdaq index is edging closer to its record high set in November 2021, reflecting the overall strength of the tech sector and investor confidence in the market.

Main US Indices Close for the Day

• S&P 500 +2.1%
• Nasdaq Comp +3.0%
• Dow Jones DJIA +1.2%
• Russell 2000 +1.0%