US stocks today: Wall Street trades in green on hopes of another Fed rate cut; Dow jumps over 660 points, Nasdaq near 2.5% gains – The Times of India

US markets traded in green on Thursday as investors welcomed fresh signs that pressure on Wall Street may be easing, with Nvidia’s latest earnings and renewed hopes of another interest rate cut by the Federal Reserve. Dow jumped 662 points or 1.44% to 46,801. Nasdaq also rose to 23,134 up, 569 points or 2.5% at 8:30 PM IST. S&P500 also followed the suit, rising 126 points or 1.9%.The gains also came after Nvidia delivered another heavyweight profit update, calming concerns that enthusiasm around artificial intelligence might be fading. Walmart’s stronger-than-expected results also helped lift sentiment. Ahead of the opening bell, futures trading pointed clearly to a risk-on mood. S&P 500 futures gained 1.6%, while futures tied to the Dow advanced 1% and the Nasdaq added 2.1%. Nvidia shares rose 5.2% in pre-market activity after the chipmaker posted a summer profit that outpaced Wall Street expectations and released a revenue forecast that once again sailed past analysts’ estimates. The company’s ability to repeatedly exceed projections has strengthened its role at the heart of market volatility. Nvidia, now the most valuable firm on Wall Street and briefly worth more than $5 trillion, holds such a large weight in the S&P 500 that its daily swings can set the tone for the entire index. Recent doubts about whether AI-linked stocks had surged too far, too fast have rattled markets, but the latest earnings figures offered investors a renewed sense of assurance. Nvidia’s dominance has also made it a proxy for the wider AI build-out, with companies across industries relying on its chips to expand their artificial-intelligence capabilities. Markets also reacted to new figures on the U.S. labour market. Government data showed hiring in September was stronger than economists had projected, although the unemployment rate rose slightly. The mixed report kept hopes alive that the Federal Reserve could cut interest rates again at its December meeting. The central bank has already trimmed rates twice this year as the job market has gradually slowed. However, some Fed officials have recently suggested that holding off next month may be prudent, warning that inflation’s persistence above the 2% target leaves little room for complacency. Lower rates can stimulate the economy and lift asset prices, but they also risk fuelling further inflation. Overseas markets largely mirrored the positive tone. Germany’s DAX rose 1.3%, London’s FTSE 100 advanced 0.7%, and France’s CAC 40 posted a 1.1% gain. In Asia, Japan’s Nikkei 225 posted a 2.6% rise as tech stocks rallied, while South Korea’s Kospi increased by 1.9%. Chinese indices closed mixed amid reports that Beijing may be preparing new steps to support its struggling property sector. With Nvidia once again surpassing expectations and broader economic data offering room for optimism, Thursday’s session marked a rare stretch of calm after weeks of uncertainty across global markets.