Nvidia, Chipmakers Lift Stocks as Advance Defies War Jitters
US stocks rose on Monday led by Nvidia and chipmakers after strong earnings, as bullish strategists raised S&P 500 targets despite ongoing geopolitical risks from the Iran conflict.
US equities resumed their advance midmorning Monday, as strong earnings reports from chipmakers spurred bullish Wall Street strategists to raise their year-end targets on the S&P 500, overriding lingering concerns about the duration of the Iran conflict.
Nvidia and other semiconductor stocks led the rally after better-than-expected quarterly results, reinforcing optimism around artificial intelligence demand. The S&P 500 and Nasdaq both posted gains, with the tech-heavy index outperforming as investors rotated into growth names. The advance came despite ongoing geopolitical uncertainty, as the market focused on corporate fundamentals rather than headline risk. For real-time stock quotes on Nvidia and other movers, traders can check NowPrice for the latest levels.
The rally reflects a broader shift in sentiment as earnings season continues to beat lowered expectations. Analysts have noted that forward P/E multiples remain elevated but are supported by strong profit margins and buyback activity. However, the Iran situation remains a wild card, with oil prices sensitive to any escalation. Looking ahead, traders will watch upcoming inflation data and Federal Reserve commentary for clues on the rate path, while chip sector earnings will be scrutinized for sustainability of AI-driven growth.