Wall Street's Happy About These 2 Winning Tech Stocks
The stock market has been under pressure this week, as investors have grown concerned that January's big gains in the Nasdaq Composite (NASDAQINDEX: ^IXIC) and other major stock indexes could prove to be just another head fake in a bear market that has lasted more than a year now. Yet market participants seemed a little more comfortable with the prospects for stocks on Thursday morning, as the Nasdaq rose nearly 1% in premarket trading.
A pair of tech stocks reported their latest financial results overnight, and that helped build more positive sentiment on Wall Street. In particular, strong numbers from Nvidia (NASDAQ: NVDA) and Alibaba Group (NYSE: BABA) lifted their respective share prices and brought optimism to the tech stock sector more broadly.
Shares of Nvidia posted a powerful jump on Thursday morning, rising 12% in premarket trading. The semiconductor giant reported fiscal fourth-quarter financial results for the period ending Jan. 29, and investors reacted positively to all the things that Nvidia said to feed the growing hype about artificial intelligence (AI).
Source Fool.com
