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US stock market report – NVIDIA & Ford shares in focus

Picture of Drew Meredith, CFP
Drew Meredith, CFP
Picture of Drew Meredith, CFP

Drew Meredith, CFP

Drew Meredith is one of the founders of Wattle Partners. He is an experienced financial and investment adviser with expertise in self-managed superannuation funds, superannuation strategies, investment analysis and portfolio construction. Drew is a Partner at Wattle Partners.
More analysis

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.

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.

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Wattle Partners is a financial advice firm, servicing clients around Australia, specialising in retirement planning (pre and post retirement). 

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