U.S. stocks are higher on Thursday, led by the technology-heavy indexes.
AI chip giant Nvidia (NASDAQ: NVDA) delivered another quarter of accelerating growth and the market’s attention turned to these blowout results
The Nasdaq Composite (NASDAQINDEX: ^IXIC) leads at 1.31% as of 12:10 p.m. ET, the S&P 500 (SNPINDEX: ^GSPC) is up 0.66%, and the Dow Jones Industrial Average (DJINDICES: ^DJI) trails at 0.33%. The spread between the surging Nasdaq Composite and the stable Dow index is the whole story: a few giant names are doing the heavy lifting while the rest of the market is taking a break.
Why the Nasdaq is far outpacing the Dow Nvidia posted $96.2 billion in Q2 2027 revenue, up 106% from the year-ago period. The company also beat bottom-line estimates and issued rosy guidance for the third quarter. The next couple of quarters will see lower gross margins as Nvidia absorbs some of the rising memory chip costs, followed by a recovery in 2028.