General market trends
The most interesting movements based on the results of this Thursday:
- The Nasdaq Composite surged 1.7% in Thursday's session after stronger-than-expected revenue guidance and Nvidia beating its earnings forecast fuelled a rally in semiconductor and artificial intelligence stocks.
Sanford C. Bernstein noted that Nvidia's revenues for the data centre division are expected to grow by 75% this quarter. In the first quarter, Nvidia became one of the growth leaders in the US due to the hype around artificial intelligence. Since the beginning of the year, the chipmaker's value has increased by 160%. The market value has exceeded $960 billion. As a result, Nvidia now ranks fifth in the world in terms of capitalisation. - The S&P 500 ended 0.9% higher, while the Dow slipped 0.1% due in part to a 5.5% drop in Intel.
Each of these indexes reflects a different part of the US economy, with the S&P 500 representing the broader picture and the Dow Jones focusing on larger businesses. - Investors continue to watch the state of debt ceiling negotiations.
Uncertainty has put pressure on stocks this week, with the S&P and Dow heading for their worst week in two months.
Previous session's movement leaders
The stocks of the following companies showed the biggest growth:
Nvidia +24.59%
Nvidia is an American technology company that develops graphics processors and systems on a chip (SoC). Nvidia is a leading provider of artificial intelligence hardware and software. Its professional line of GPUs is used in workstations for applications in areas such as architecture, engineering and construction, media and entertainment, automotive, research and manufacturing design. Nvidia onboard computers are used as the basis for self-driving cars.
Adobe Systems +6.88%
Adobe Inc. is an American multinational software company incorporated in the State of Delaware and headquartered in San Jose, California. The company specialises in software for creating and publishing a wide range of content, including graphics, photography, illustration, animation, multimedia/video, film and print. Flagship products include Adobe Photoshop image editing software, Adobe Illustrator vector illustration software, Adobe Acrobat Reader and Portable Document Format (PDF).
Oracle +6.30%
Oracle (Oracle Corporation) is an American corporation, the second largest software developer in terms of revenue (after Microsoft), the fourth largest information technology company (after Alphabet, Microsoft and IBM), and a major supplier of server hardware. The company specialises in the release of database management systems, middleware and business applications (ERP and CRM systems, specialised industry applications). The company's best-known product is Oracle Database, which the company has been releasing since its inception.
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Estee Lauder ($0.66)
Estee Lauder Companies Inc. is an American company specialising in the production and sale of prestigious skin care products, decorative cosmetics and perfumes, and hair care products. It's the second-largest cosmetics company in the world after L'Oréal.
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