All three major indexes logged healthy wins, as chip stocks soared on the back of Nvidia's (NVDA) earnings beat and upbeat revenue growth forecast. The tech-heavy Nasdaq ushered in an impressive 411-point win, while the S&P 500 and Dow settled comfortably in the black as well.
Cybersecurity stocks also got a lift after CrowdStrike (CRWD) and Okta (OKTA) each raised their full-year outlooks amid growing agentic AI demand. Investors will now turn their attention to Fed Chair Kevin Warsh's speech at the annual Jackson Hole symposium in Wyoming tomorrow.
Gold Manages a Win Ahead of Fed Speech
Oil made its way higher after the White House said no talks were currently happening between the U.S. and Iran. September-dated West Texas Intermediate (WTI) oil rose 17% to finish at $83.66 per barrel.
Gold futures managed to eke out a win this afternoon, with investors focusing on tomorrow's speech from Warsh. December-dated gold added 0.2% to settle near $4,664.40.
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