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27.08.202613:32:30UTC+00Nvidia Supports US Stocks

US equities were mixed, as robust earnings from Nvidia buoyed the tech sector and offset weakness across the broader market. The S&P 500 and Nasdaq 100 advanced 0.4% and 0.7%, respectively, while the Dow edged lower.

Nvidia jumped 7% after surging demand for AI compute led the world’s largest company to project a 70% increase in revenue for the next fiscal year. The forecast challenged entrenched skepticism that capital expenditure on AI infrastructure would soon decelerate. The upbeat outlook also lifted other AI infrastructure–exposed names, with Micron, Marvell, Sandisk, Palo Alto Networks, and GE Vernova gaining between 3% and 6%.

In contrast, broader sectors declined amid ongoing worries about an unfavorable macroeconomic backdrop. Long-term Treasury yields held near recent highs, pressured by widening federal deficits, a surge in AI-related debt issuance, renewed tariffs involving Canada and other major trading partners, and persistent risks of elevated energy-driven inflation. Apple, Merck, and Visa each slipped more than 1%.

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