US Stocks Rise Amid Earnings Reports

U.S. stocks experienced a significant rally on Thursday, with the Dow Jones Industrial Average rising over 450 points, largely driven by strong earnings reports from companies like Nvidia, which posted a net income of $19.3 billion despite caution over future revenue growth. The S&P 500 and Nasdaq Composite also saw gains, although Big Tech stocks, including Alphabet and Amazon, faced declines due to regulatory scrutiny and market adjustments. Nvidia's stock fluctuated after reporting a quarterly revenue increase of 17%, yet it forecasted slower growth due to supply chain constraints. Meanwhile, initial jobless claims fell to 213,000, indicating a resilient labor market. Bitcoin approached a new all-time high, nearing the $100,000 mark, fueled by recent developments in cryptocurrency ETFs. Overall, investor sentiment shifted positively, aided by cyclical stocks and macroeconomic indicators suggesting potential stability in the economy.