The three major U.S. stock indexes opened higher on the 27th. Buoyed by Nvidia's strong earnings report, renewed expectations for the artificial intelligence (AI) industry appeared to bring warmth back to the market.
As of 9:41 a.m. on the 27th, the Dow Jones Industrial Average on the New York Stock Exchange was up 42.61 points, or 0.08%, at 53,506.49 from the previous day.
The Standard & Poor's (S&P) 500 rose 25.69 points, or 0.33%, to 7,701.39, and the Nasdaq gained 211.75 points, or 0.81%, to 26,341.94.
Nvidia's "earnings surprise," released right after the previous session's close, appeared to spur investor sentiment toward the AI market.
Nvidia said revenue for the second quarter of fiscal year 2027 was $96.22 billion, up 106% from a year earlier. Adjusted earnings per share (EPS) also surged 120% to $2.22 from a year earlier, with both revenue and EPS beating market expectations.
Colette Kress, Nvidia's chief financial officer (CFO), said on the earnings conference call that "revenue in fiscal year 2028 will increase by about 70%."
On the day, Nvidia shares jumped 6.97%, while SanDisk and Marvell Technology rose 1.12% and 1.98%, respectively.
By sector, all but technology stocks were weaker. Moderna fell 3.88% from the prior trading day on news of a $2 billion convertible bond (CB) issuance. HP dropped 7.34% despite beating third-quarter earnings expectations, weighed down by lower PC shipments and narrower margins.
By contrast, Salesforce, Inc. surged 17.71% after raising its full-year revenue and profit outlook and unveiling a new plugin that combines Anthropic's Claude AI model.