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    Nvidia (NVDA) Surges 14% as Treasury Yields Decline and Unemployment Claims Drop


    Shares of Nvidia (NVDA 14.02%) surged 14% on Thursday after the software company posted better-than-expected results in the fourth quarter and boosted its current quarter guidance. The 10-year Treasury yield declined four basis points to 3.87% and U.S. crude oil prices rose nearly 2% to $75.39 a barrel.[0]

    Unexpectedly, the US Department of Labor's initial jobless claims decreased to 192,000 from 194,000 in the prior week.[1] The Commerce Department's second estimate of the fourth-quarter GDP growth rate decreased to 2.7%, lower than the expected 2.9% that was shown in the first estimate.

    Revenue reported by Nvidia for the fourth quarter of the fiscal year was $6.05 billion and adjusted earnings per share came in at 88 cents, surpassing the expectations of Wall Street.[2] It also forecast $6.5 billion in sales for the upcoming quarter.[3]

    “AI is at an inflection point, setting up for broad adoption reaching into every industry,” CEO Jensen Huang said in a statement.[4] An increased curiosity in the multifaceted features and potential of generative AI is being observed.[5]

    Despite exceeding expectations, the stock of EBAY dropped 5.5% as the company's earnings and revenue were reported.[6] Shares of Lucid Group (LCID) dropped 17% due to disappointing sales numbers.[7]

    The government released new information regarding the fourth quarter Gross Domestic Product (GDP) in the economic sector.[8] Revisions to economic growth figures for the last quarter of the year put it at 2.7%, lower than the 2.9% that economists had forecasted. Meanwhile, personal income is expected to have risen 1.2% last month, according to Dow Jones consensus estimates. The figure was an increase of 0.2% compared to the preceding month.[9]

    Friday morning will bring with it the personal consumption expenditures price index, which is the Federal Reserve's preferred gauge of inflation.[0] Economists expect a 1% gain for personal income with consumer spending rising 1.2%.

    Raphael Bostic, President of the Federal Reserve Bank of Atlanta, and Mary Daly, President of the Federal Reserve Bank of San Francisco, are set to give speeches later today.[10]

    In conclusion, Thursday's market saw shares of Nvidia surge 14%, while the 10-year Treasury yield declined four basis points to 3.87%. Unexpectedly, the US Department of Labor's initial jobless claims decreased to 192,000 from 194,000 in the prior week.[1]

    0. “Tech-Driven Stock Rally Sputters Amid Fed Overhang: Markets Wrap” Yahoo Canada Finance, 23 Feb. 2023,

    1. “Stock Market Today: Nasdaq Outperforms as Nvidia Outlook Impresses” Kiplinger's Personal Finance, 23 Feb. 2023,

    2. “NVDA Stock: Nvidia Delivers Upbeat Q4 Report | Investor's Business Daily” Investor's Business Daily, 23 Feb. 2023,

    3. “Why did Nvidia stock jump up today? Strong Q4, guidance leads to praise (NVDA)” Seeking Alpha, 23 Feb. 2023,

    4. “Here's Why Nvidia Stock Surged Today” The Motley Fool, 23 Feb. 2023,

    5. “Nvidia Stock Soars on AI Outlook, Lifting ETFs”, 23 Feb. 2023,

    6. “Stocks Higher Thursday Afternoon; Labor Market Shows Continued Strength” InvestorsObserver, 23 Feb. 2023,

    7. “Stock market news today: Stocks fall after back-to-back losses for S&P 500, Dow” Yahoo News, 23 Feb. 2023,

    8. “S&P 500 breaks 4-day losing streak on strong Nvidia results; Nasdaq, Dow also rise” Seeking Alpha, 23 Feb. 2023,

    9. “Stock futures fall as investors await key inflation and consumer data: Live updates” CNBC, 24 Feb. 2023,

    10. “S&P 500 snaps 4-day losing streak as stocks end choppy session higher” MarketWatch, 23 Feb. 2023,

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