Why Nvidia Stock Bounced Back Today
Shares of Nvidia (NASDAQ: NVDA) were recouping losses from yesterday's rout today as investors enjoyed a "risk-on" movement after several volatile sessions in Nvidia and the broad market.
Today's jump was sparked by an employment report that showed a decline in initial unemployment claims, cooling off fears that the economy was possibly headed toward a recession after the July unemployment rate jumped from 4.1% to 4.3%.
As a result, Nvidia stock was trading up 6.3% as of 2:17 p.m. ET, while the Nasdaq had jumped 3% at the same time.
Source Fool.com
