Nasdaq rises 200 points as Nvidia Q2 revenue hits $96.22 billion
- Nasdaq Composite rose 0.77% to 26,332.01, outperforming the Dow and S&P 500
- Nvidia Q2 revenue reached $96.22 billion, up 106% YoY and beating estimates
- IT sector led gains with a 2.2% jump, while consumer staples fell 1.1%
- Propanc Biopharma shares surged 211% on positive clinical data
*this image is generated using AI for illustrative purposes only.
U.S. equity markets traded higher on Thursday, driven by strong performance in the technology sector. The Nasdaq Composite gained approximately 200 points, closing at 26,332.01, a rise of 0.77%. This outperformance contrasts with the Dow Jones Industrial Average, which slipped 0.01% to 53,457.46, and the S&P 500, which logged a modest gain of 0.27% to 7,696.27.
Market Movers
Information technology shares emerged as the clear leader, jumping 2.2% on the day. Conversely, consumer staples stocks faced selling pressure, falling 1.1%.
Individual Stock Action
Several equities posted significant moves following corporate announcements:
- Propanc Biopharma Inc (NASDAQ: PPCB): Shares surged 211% to $3.33 after the company announced preclinical and early translational data for its lead candidate PRP in pancreatic ductal adenocarcinoma.
- VolitionRX Ltd (NYSE: VNRX): Stock rose 86% to $0.63 following a report of a 112% year-over-year revenue surge in the first half of 2026, reaching $1.4 million.
- Mint Incorporation Ltd (NASDAQ: MIMI): Shares gained 74% to $3.13, recovering from a dip of over 6% on Wednesday.
On the downside:
- Alpha Modus Holdings Inc (NASDAQ: AMOD): Shares dropped 25% to $2.87 after disclosing a strategic transaction expected to add 3,170 Bitcoin to its balance sheet.
- Change Agents Corp (NASDAQ: CHGA): Stock fell 29% to $0.13 following an announcement of a 1-for-20 reverse stock split.
- Xiao-I Corp (NASDAQ: AIXI): Shares declined 21% to $0.64 after agreeing to sell $4.33 million in unsecured convertible notes for $4 million to an institutional investor.
Nvidia Earnings Beat Estimates
Nvidia Corp (NASDAQ: NVDA) reported second-quarter financial results after the closing bell on Wednesday. The company posted revenue of $96.22 billion, representing a 106% year-over-year increase. This figure beat the Street consensus estimate of $92.18 billion, according to data from Benzinga Pro. Nvidia also issued a strong revenue forecast for the current quarter.
Global Markets and Commodities
European shares were mostly lower. The eurozone’s STOXX 600 fell 0.6%, Spain’s IBEX 35 Index dropped 0.7%, London’s FTSE 100 fell 0.6%, and France’s CAC 40 dipped 1.6%. Germany’s DAX was the exception, gaining 0.2%.
Asian markets closed mostly lower on Wednesday. Japan’s Nikkei 225 fell 0.20%, Hong Kong’s Hang Seng index dropped 0.34%, and India’s BSE Sensex fell 0.70%. China’s Shanghai Composite was the standout gainer, rising 1.13%.
In commodities, oil traded up 0.7% to $82.77, while gold fell 0.5% to $4,629.50. Silver dipped 0.2% to $67.880, and copper rose 1.1% to $6.6745.
Economic Data
U.S. initial jobless claims declined by 4,000 to 203,000 in the third week of August, against market estimates of 208,000. Wholesale inventories climbed 1.3% month-over-month to $959.1 billion in July, following a revised 0.3% gain in June. The U.S. goods trade deficit widened to $118.8 billion in July from $101.4 billion in the previous month.
Will Nvidia's strong earnings and guidance sustain the momentum in the broader technology sector, or is a rotation into lagging sectors like consumer staples imminent?
How might the widening U.S. goods trade deficit impact future Federal Reserve interest rate decisions given the current labor market resilience?
What are the long-term implications for Alpha Modus Holdings' stock price as it integrates Bitcoin into its balance sheet amidst ongoing crypto market volatility?
20
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
