U.S. stock indices extended gains as Nvidia headlines drive sentiment
U.S. stock indices finished higher in midweek trading, supported by a wave of optimism around technology leadership and AI-related demand. Market participants weighed solid corporate updates and the momentum created by heavyweight tech names, with Interfax noting continued strength in equities.
Attention remained focused on Nvidia Corporation after its earnings report was published following the close of trading on Wednesday. The chipmaker, renowned for its graphics processing units and system-on-chip technologies, has enjoyed a dramatic rise in value this year, as investors price in the expanding role of artificial intelligence across multiple industries. The company’s market capitalization has surged, reflecting broad enthusiasm for AI-driven hardware and software ecosystems.
Retailers also moved higher as Abercrombie & Fitch Co advanced markedly, rising about 23.5 percent on the session. The casual apparel retailer reported a 16 percent increase in revenue and nudged its full-year outlook higher, signaling improved demand and ongoing brand momentum.
In the homebuilding space, Toll Brothers rose roughly 3.9 percent as investors digested the firm’s latest results and expectations for a steady pace of housing activity. The housing market’s health continues to be a key driver for related equities and consumer spending outlooks.
Urban Outfitters climbed about 3.1 percent, supported by a revenue milestone and a strong consumer backdrop for lifestyle and fashion brands. Bath & Body Works also advanced, with its shares adding around 3.8 percent as investors evaluated the company’s sales traction and profit trajectory.
Merck & Co led notable gains within the index, rising near 3.8 percent as the pharmaceutical group benefited from positive sentiment on drug pipelines and potential updates to its product portfolio.
Across currencies and macro themes, commentary dated August 12 highlighted a non-obvious alternative to the dollar and euro for certain international audiences, reflecting ongoing interest in hedges and currency diversification in a dynamic global market.
In the digital asset arena, Bitcoin traded with renewed vigor, pushing above the $29,000 threshold and marking roughly a 6 percent intraday gain. The move underscored continued appetite for risk-on assets among traders after a period of volatility in cryptocurrency markets.