FX.co ★ US Stocks Rise Sharply on Thursday

On Thursday, U.S. stocks experienced a significant upswing, driven by robust results from Nvidia that positively impacted the outlook for AI services and infrastructure. Simultaneously, the market was digesting a range of mixed employment data. The Nasdaq 100, known for its tech concentration, jumped nearly 2%, while the S&P 500 saw a gain of 1.7%, and the Dow Jones climbed by more than 600 points. Nvidia's stock increased by 3.5% after exceeding sales expectations and offering a promising future outlook for its hardware. This outcome defied concerns about potentially inflated valuations within the sector and sparked a widespread recovery in stock prices. Similarly, shares of AMD, Broadcom, and Oracle rose by over 3%. Additionally, Walmart shares climbed 3.5% following an upward revision in its sales guidance for the year, attributed to stronger digital sales and an uptick in transactions from price-sensitive customers. In related economic news, the delayed September non-farm payroll report showed job growth more than doubling expectations, which led to increased speculation that the Federal Reserve might keep interest rates steady next month, despite a rise in unemployment.