U.S. equities surged on Wednesday, buoyed by strong performances from tech giants Nvidia and Oracle, as investors looked to extend gains from the previous trading day. The S&P 500 climbed 0.5%, while the Nasdaq Composite jumped 1%. The Dow Jones Industrial Average added 102 points, or 0.2%, in response to optimistic market sentiment.
Shares of Nvidia rose by 1% in advance of its highly anticipated earnings report, set to be released after the market close. The tech sector is keenly watching Nvidia’s performance alongside reports from Salesforce and Snowflake, as investors reconsider lofty valuations and express skepticism about capital expenditures in hyperscale computing. Ulrike Hoffmann-Burchardi, head chief investment officer for global equities, emphasized that market confidence may hinge on Nvidia’s earnings. “With hyperscalers announcing increased capex recently, markets expect the chipmaker to project revenue growth above consensus estimates,” she noted.
Michael Rosen, chief investment officer at Angeles Investment Advisors, cautioned against underestimating Nvidia’s CEO Jensen Huang, remarking that he has “played his cards extremely well.” He also identified Nvidia’s recent stock surge, recently extending to four consecutive days of gains, as a potential opportunity for profit-taking among investors.
In a related development, shares of Oracle jumped 3%, leading a software sector rally after receiving an upgrade from Oppenheimer, which highlighted a “favorable” risk-reward profile following the company’s recent pullback. The iShares Expanded Tech-Software Sector ETF (IGV) continued its upward trajectory from the previous session, when it climbed 2%. Stocks like Palantir Technologies and Microsoft also saw gains, despite Workday experiencing a dip following a lackluster revenue forecast.
Rosen described investor worries surrounding software and AI as “a bit overblown,” suggesting that the market is becoming more discerning about which companies are best positioned for growth. He noted, “The market is transitioning from a phase of indiscriminate buying to a more selective approach.” Rosen added that the current market environment reflects an “ask-questions-later” mentality, indicating that investor apprehensions may not be as severe as previously thought.
On Tuesday, the major stock indices rose as fears about AI disruption across various industries subsided. Advanced Micro Devices helped lift the broader market after Meta Platforms announced a multiyear partnership with the semiconductor company. The software and cybersecurity sectors also experienced a relief rally following Anthropic’s launch of new connectors and plugins for its AI tool, Claude Cowork, enabling companies to integrate it with existing applications like Google Drive.
In separate news, investors are closely monitoring escalating tensions between the U.S. and Iran. Over the past weekend, President Donald Trump threatened to raise global tariffs to 15%, although a 10% duty on global imports took effect on Tuesday. During his State of the Union address, Trump addressed the state of the economy and proposed a government-backed retirement account for workers, reiterating his call to prohibit large institutional investors from purchasing single-family homes.
As the market reacts to earnings reports and geopolitical tensions, traders remain vigilant, adjusting their strategies amid evolving economic signals. The coming days will be crucial in establishing whether the current momentum can be sustained in the tech sector.
Original Source: https://www.cnbc.com/2026/02/24/stock-market-today-live-updates.html
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Publish Date: 2026-02-25 21:36:00
