🔼 Nvidia supports market sentiment and pushes US500 to new records
US stock market indices are rallying today with market sentiment being supported by solid earnings report released by Nvidia yesterday after close of the market session. Market gains accelerated after launch of the cash session today - S&P 500 gains 1.7% while Nasdaq rallies 2.5%. Dow Jones lags behind, but still gains 0.7% on the day. S&P 500 futures (US500) broke to fresh all-time highs and are now trading near 5,080 pts.
US macro data released today surprised to the upside. Jobless claims came in low, existing home sales for January increased more than expected and flash manufacturing PMI data for February rose unexpectedly. Services PMI missed expectations. Nevertheless, today's move is driven by Nvidia, with company's shares trading 15% and at fresh record highs above $775.
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US500 broke above previous all-time highs in the 5,065 pts area and is now trading at new record levels! Source: xStation5
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