US stock markets were powered higher by the smaller companies and technology sectors, with the Nasdaq jumping 0.6% after a stunning upgrade from chipmaker NVIDIA (NASDAQ: NVDA).
The more value-oriented Dow Jones and S&P 500 weren’t as strong, adding just 0.03% and 0.2% respectively.
The Small Cap Russell 2000 index was the highlight, jumping 2.0% as the more diverse exposure to an improving domestic economy benefitted from continued reopening news.
Ford Motor Co (NYSE: F) jumped 8.6% after announcing its intention to double down on its investment into electric vehicles, adding US$30 billion to its investment intentions.
NVIDIA was the standout, however, beating sales expectations by over US$1 billion. Revenue was 84% higher than 12 months ago, hitting US$5.66 billion, powered by sales of chips designed for gaming which doubled.
The company is also seeking to reduce the use of its processing chips in bitcoin mining through a number of design changes, shares were broadly flat.
US stock market movers
Here’s how other popular US shares performed overnight.
- Zcaler (NASDAQ: ZS) up 12.4%
- Peloton (NASDAQ: PTON) up 10.2%
- NIO (NYSE: IO) up 4.7%
- Moderna (NASDAQ: MRNA) up 3.7%
- Tesla (NASDAQ: TSLA) up 2.4%
- Mastercard (NYSE: MA) down 1.2%
- Walgreens (NASDAQ: WBA) down 4.0%
Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is expected to open broadly flat on Thursday. For all the latest, check out Rask Media’s ASX 200 morning report.
