US stocks extend rally with modest gains
US stocks opened lower but finished higher, driven by a 30% rally in Marvell Technology Inc shares.
The rally was fueled by Nvidia CEO Jensen Huang’s statement that the company will be the next trillion-dollar company, boosting its market cap to $321 billion from $247 billion.
The S&P 500 and Nasdaq Comp both rose 0.1%, while the Russell 2000 gained 0.9% and the DJIA added 0.45%.
Hewlett-Packard Enterprises soared 19% on strong earnings, with server revenue reaching $5.45 billion, nearly $1 billion above estimates.