Nasdaq Gains Over 1%; Nvidia Posts Strong Revenue

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining over 1% on Thursday.

Following the market opening Thursday, the Dow traded up 0.17% to 42,170.51 while the NASDAQ jumped 1.16% to 19,322.40. The S&P 500 also rose, gaining, 0.69% to 5,929.30.

Check This Out: Wall Street’s Most Accurate Analysts Give Their Take On 3 Materials Stocks Delivering High-Dividend Yields

Leading and Lagging Sectors

Information technology shares jumped by 1.5% on Thursday.

In trading on Thursday, consumer staples stocks fell by 0.2%.

Top Headline

NVIDIA Corporation (NASDAQ:NVDA) reported better-than-expected revenue for the first quarter.

The company posted first-quarter revenue of $44.1 billion, up 69% year-over-year and up 12% from the fourth quarter. The revenue beat a Street consensus estimate of $43.2 billion. Nvidia reported adjusted earnings of 81 cents per share in the first quarter. Nvidia said it sees second-quarter revenue of $45.0 billion, +/- 2%. The guidance includes the loss of $8.0 billion in H20 revenue due to the export controls.

Equities Trading UP
           

• Alzamend Neuro, Inc. (NASDAQ:ALZN) shares shot up 140% to $7.95 after the company dosed the first patient in its Phase II clinical trial of AL001.
• Shares of Streamline Health Solutions, Inc. (NASDAQ:STRM) got a boost, surging 123% to $4.9525 after the company announced MDaudit will acquire the company for $5.34 per share in cash.
• Healthcare Triangle, Inc. (NASDAQ:HCTI) shares were also up, gaining 105% to $0.0119.

Equities Trading DOWN

• Elong Power Holding Limited (NASDAQ:ELPW) shares dropped 62% to $1.31.
• Shares of Brooge Energy Limited (NASDAQ:BROG) were down 58% to $1.7699. Brooge Energy announced voluntarily delisting from the Nasdaq.
• Revelation Biosciences, Inc. (NASDAQ:REVB) was down, falling 52% to $0.9394 after the company announced a $4 million public offering.

Commodities

In commodity news, oil traded down 1.1% to $61.17 while gold traded up 1.4% at $3,339.40.

Silver traded up 0.6% to $33.355 on Thursday, while copper rose 0.9% to $4.7170.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 fell 0.1%, while Spain's IBEX 35 Index rose 0.2%. London's FTSE 100 fell 0.1%, Germany's DAX 40 fell 0.2% and France's CAC 40 gained 0.2% during the session.

Asia Pacific Markets

Asian markets closed higher on Thursday, with Japan's Nikkei gaining 1.88%, Hong Kong's Hang Seng Index rising 1.35%, China's Shanghai Composite Index rising 0.70% and India's BSE Sensex rising 0.39%.

Economics

• U.S. initial jobless claims rose by 14,000 from the previous week to 240,000 in the week ending May 24th, compared to market estimates of 230,000.
• The U.S. economy shrank at an annualized rate of 0.2% in the first quarter, compared to the initial estimate of a 0.3% decline.

Now Read This:

• Top 2 Materials Stocks That Are Ticking Portfolio Bombs

Photo via Shutterstock