Shares of Nvidia (NASDAQ: NVDA) were moving higher today on several news items, including a cooler-than-expected inflation report this morning, a well-received presentation at a Goldman Sachs conference this morning, and news that the federal government could allow it to export chips to Saudi Arabia. As a result, the stock closed up 8% on the news.
Chip stocks largely jumped as well on the inflation report, with the iShares Semiconductor ETF up 4.6% on the news, and the Nasdaq Composite was up 2.2%.
Image source: Nvidia.
Source Fool.com