The S&P 500 rose Thursday in choppy trading as investors poured into stocks poised to benefit from a booming economy, and shook off a decline in technology stocks led by Nvidia.
The Dow Jones Industrial Average added 370 points, or 0.8%. The S&P 500 added 0.2%, and the Nasdaq pulled back 0.4%.
The market gains were led by companies that would benefit from a accelerating economy, despite the overarching focus on market bellwether Nvidia's earnings report after the bell Wednesday.
Some of Thursday's winners included bank stocks like JPMorgan and Goldman Sachs and retailer Home Depot. The Russell 2000 Index, viewed as a barometer for small companies and beneficiary of a possible boost to the economy from President-elect Donald Trump, added more than 1%.
Investors also assessed results for AI-chip juggernaut Nvidia, up 190% this year. Shares seesawed even after the company reported better-than-expected third-quarter earnings and issued strong guidance. Some traders attributed the losses to slowing revenue growth from previous quarters, or concerns that the chipmaker didn't exceed the most optimistic guidance estimat (Cay) Newsmaker.id
Source: CNBC
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