Nasdaq Surges 254 Points as Nvidia Jumps 7%, Salesforce and CrowdStrike Beat Expectations
On.cc · 1 SOURCESabout 2 hours ago2 MIN
Summary
US stock indices showed mixed performance on Thursday morning as investors braced for the Jackson Hole symposium. The Dow Jones Industrial Average slipped 7 points to 53,456, while the S&P 500 gained 28 points to 7,703. The technology-heavy Nasdaq Composite led gains, rising 254 points to 26,384. Hong Kong futures traded at 25,465, representing a 101-point discount to the Hang Seng Index .
Key Points
- UBS Wealth Management attributed the recent rise in US Treasury yields to structural factors including Federal Reserve policy uncertainty, large-scale AI-related debt issuance, and increasing concerns over US fiscal pressures
- Salesforce reported quarterly revenue of $11.345 billion, up 10.83% year-over-year, with net profit surging 86.85% to $3.526 billion; adjusted EPS rose 119% year-on-year
- Salesforce raised its fiscal year 2027 revenue forecast by $200 million to a range of $46.1 billion to $46.4 billion, representing 11% to 12% annual growth
- CrowdStrike posted quarterly revenue of $1.47 billion, a 25.83% year-over-year increase, with adjusted net profit jumping 36.03% to $322 million
- Nvidia agreed to acquire open-source AI model hosting platform Hugging Face for $12.9 billion, potentially consolidating its dominance in AI hardware
Why It Matters
The convergence of strong corporate earnings with strategic AI acquisitions underscores the continuing robust performance of the technology sector despite broader market volatility. For Hong Kong investors, the gains in US tech stocks and the anticipated policy signals from the Jackson Hole symposium could influence regional market sentiment and technology sector valuations in the coming weeks .
The convergence of strong corporate earnings with strategic AI acquisitions underscores the continuing robust performance of the technology sector despite broader market volatility. For Hong Kong investors, the gains in US tech stocks and the anticipated policy signals from the Jackson Hole symposium could influence regional market sentiment and technology sector valuations in the coming weeks .