Major indices rose, driven by chip and AI stocks, as investors await Nvidia’s earnings report after market close tomorrow.
US equities closed higher, with the Nasdaq Composite and Nasdaq 100 outperforming on gains in technology and semiconductor stocks. The Dow added 160.02 points, or 0.30%, while the S&P 500 rose 0.32% and the Nasdaq Composite climbed 0.66%.
The rally was led by chipmakers and AI-related stocks, including Nvidia, which snapped a seven-day losing streak with a 2.19% gain. Micron Technology and Marvell Technology also advanced ahead of their earnings reports later this week. The Russell 2000 rose 0.50%, reflecting broad market strength.
Nvidia’s earnings, due after tomorrow’s close, will test sentiment around AI demand and forward guidance. Marvell’s results on Thursday will further shape expectations for the semiconductor sector.