NEW YORK — Stocks are climbing following another blowout earnings report from Nvidia as euphoria builds over the profit potential of artificial intelligence. The S&P 500 was up 0.5% in early trading Thursday and on track to beat its record set earlier this week. The Nasdaq composite was 1% higher. The Dow Jones Industrial Average slipped 29 points. Nvidia soared after saying late Wednesday that its revenue more than tripled in the latest quarter from a year earlier.
Nvidia's performance also boosted chipmakers Micron and Advanced Micro Devices, which rose 4% and 3% respectively. Elsewhere, in Europe at midday, France's CAC 40 and Germany's DAX climbed 0.4%, while Britain's FTSE 100 was unchanged.Taiwan’s Taiex hit a record high, gaining 0.3% to close at 21,607.43.
Chinese shares fell back as investors questioned whether a fresh flurry of policies to help the troubled property sector will suffice to end the industry's crisis. Hong Kong's Hang Seng slipped 1.7% to 18,868.71, while the Shanghai Composite shed 1.3% to 3,116.39.
Source: News Formal (newsformal.com)
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