Nasdaq Surges as AI Chip Stocks Drive Market Rally

The Nasdaq led Wall Street's main indexes higher, fueled by strong performance from AI chip stocks such as Nvidia, ahead of its crucial results. Technology stocks showed significant gains, despite broader market volatility influenced by economic concerns and tax-cut policies.

The Nasdaq surged ahead of a crucial Nvidia earnings announcement, lifting Wall Street's main indexes on the strength of AI chip stocks. At 09:58 a.m. ET, the Dow Jones rose 117.59 points, marking an impressive rise alongside the S&P 500 and Nasdaq Composite.

Nvidia, a leader in AI chips, gained 3.3%, contributing significantly to the rally. Its anticipated results are expected to influence AI stocks, previously rattled by China's DeepSeek. Meanwhile, Broadcom and Advanced Micro Devices also boosted the semiconductor index by 2%.

Market volatility continues, with strategists projecting a 9% rise for the S&P 500 by 2025, amidst ongoing fiscal debates and potential new tariffs on copper imports. Intuit and General Motors announced gains, underscoring a complex landscape for traders.

(With inputs from agencies.)