Nvidia rally sparks tech optimism

Wall Street indices are rallying with S&P 500 reaching a fresh all-time high. Tech sector is the best performer with Nasdaq rallying over 2.5%. Nvidia (NVDA.US) is the main reason behind the upbeat sentiment in the markets today. Company released a solid fiscal-Q4 earnings report yesterday after market close, with better-than-expected results and optimistic outlook for the future. Nvidia shares are trading almost 15% higher today. However, other semiconductor companies are also experiencing strong gains today - AMD (AMD.US) rallies 11% while Broadcom (AVGO.US) jumps 5.5%. Other big tech companies are also trading higher - Meta Platforms (META.US) surges 4%, Amazon (AMZN.US) gains 2.7% and Microsoft trades 1.8% higher.

Nvidia (NVDA.US) launched today's trading with big bullish price gap and continued to gain during the session. Shares reached a fresh record high above $780. Price pulled back slightly from daily highs but stock continues to trade almost 15% higher on the day. Source: xStation5

AMD (AMD.US) launched today's trading around 6% higher but has extended gains later on and is now trading over 11% higher on the day. Stock broke above the upper limit of the short-term trading range and is approaching all-time highs in the $185 area. The textbook target of the upside breakout from the trading range suggests a possibility of a move to as high as $191. Source: xStation5

Broadcom (AVGO.US) also launched today's trading with a bullish price gap. Stock broke above previous record highs from early-February 2024 in the $1,296 area and is now trading above $1,300 mark for the first time in history. Source: xStation5