U.S. Stocks Open Higher on Thursday; Nvidia Stock Gains Over 2%
Tiger Newspress11-21 22:30
US stocks opened higher after jobless claimed drop to 7-month low as economy plowed ahead.
Nvidia reported better-than-expected third-quarter results and issued strong guidance Wednesday after the bell. But shares of the AI-chip juggernaut, which are already up 194% this year, initially fell in response. Some traders cited the chipmaker’s slowing revenue growth from previous quarters as cause for concern. Or that the chipmaker didn’t exceed the most optimistic estimate in its forecast for the next quarter.
But the stock punched into the green in morning trading as investors bought the dip and as most Wall Street analysts gave bullish reports on the earnings and raised their price targets. Shares were last up about 2%.
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