Day Traders Diary


The major averages surged today thanks to strong earnings from Nvidia as AI demand accelerates through the tech space. The Dow Jones Industrial Average rose 456 points or 1.1%. The S&P 500 rose 105 points or 2.1% while the Nasdaq surged 460 points or 2.96%.

Nvidia jumped 16%, making a new all time high almost topping $2 trillion as earnings beat by 57 cents and revenue rose 265% from a year ago. Nvidia also provided upside guidance as demand is accelerating as demand moves worldwide. TD Cowen upgraded the stock with a $900 price target.

Supplier, Super Micro Computer jumped 32%. Other big cap chip stocks performed well with AMD up 10%, Broadcom rose 6% and Micron up 5%. Other big cap techs like Meta rose 3% while Amazon rose 3%.

The rest of the market is quiet. AT&T customers and shareholders are not happy as their network had an outage this morning. The stock was down 2%.

Interest rates have been quietly creeping higher with the 10 year Treasury up to 4.32%. The 2 year Treasury is up to 4.7% following the Fed minutes from January suggesting policymakers should be careful and not rush to cut rates.

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