The chip sector boosted the tech-heavy benchmark today
The Nasdaq and S&P 500 rallied on Thursday, the former scoring its best single-session gain in nearly three weeks. Semiconductor and artificial intelligence (AI) stocks led the charge, on the heels of Nvidia's (NVDA) blowout report. Elsewhere, the Dow logged a fifth consecutive loss, while the Cboe Volatility Index (VIX) snapped a four-day win streak.
Continue reading for more on today's market, including:
- 2 chip stocks boosted by Nvidia earnings.
- Why Dollar Tree stock fell today.
- Plus, options bulls play NVDA's big day; Snowflake stock's plunge; and how ASO lined bears' pockets.
Things to Know Today
- DirecTV struck a deal with EverPass Media to commercially provide the National Football League's (NFL) “Sunday Ticket” package to bars and restaurants. (CNBC)
- The Ukrainian government announced it will work with Palantir Technologies (PLTR) to catalog and assess damages to its buildings and infrastructure. (MarketWatch)
- Nvidia stock surged after predicting a "giant record year."
- Put traders did not hold back after Snowflake's dismal forecast.
- How this sports stock doubled bears' money.
Gold, Oil Prices Log Steep Daily Losses
Oil prices snapped a three-day win streak on Thursday, after the U.S. dollar strengthened, and Russian Deputy Prime Minister Alexander Novak noted he did not expect the Organization of the Petroleum Exporting Countries and their allies (OPEC+) to deliver a production cut in June. July-dated crude shed $2.51, or 3.4%, to close at $71.83 per barrel.
Gold prices settled lower as well, marking their fourth consecutive session in the red and lowest close since March 21 due to rising Treasury yields. June-dated gold shed $20.90, or 1.1%, to close at $1,943.70 an ounce.