Nasdaq Gains Over 1%; Nvidia Posts Strong Revenue

U.S. stocks rose, with the Nasdaq gaining over 1%. Nvidia reported strong first-quarter revenue of $44.1 billion, exceeding estimates, and projected $45 billion for Q2. Alzamend Neuro surged 140% after a clinical trial announcement, while Brooge Energy fell 58% due to voluntary delisting. Oil prices dropped 1.1%, while gold and silver saw gains. Initial jobless claims increased to 240,000, and the U.S. economy contracted by 0.2% in Q1.

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining over 1% on Thursday.

Following the market opening Thursday, the Dow traded up 0.17% to 42,170.51 while the NASDAQ jumped 1.16% to 19,322.40. The S&P 500 also rose, gaining, 0.69% to 5,929.30.

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Leading and Lagging Sectors

Information technology shares jumped by 1.5% on Thursday.

In trading on Thursday, consumer staples stocks fell by 0.2%.

Top Headline

NVIDIA Corporation NVDA reported better-than-expected revenue for the first quarter.

The company posted first-quarter revenue of $44.1 billion, up 69% year-over-year and up 12% from the fourth quarter. The revenue beat a Street consensus estimate of $43.2 billion. Nvidia reported adjusted earnings of 81 cents per share in the first quarter. Nvidia said it sees second-quarter revenue of $45.0 billion, +/- 2%. The guidance includes the loss of $8.0 billion in H20 revenue due to the export controls.

Equities Trading UP

Alzamend Neuro, Inc. ALZN shares shot up 140% to $7.95 after the company dosed the first patient in its Phase II clinical trial of AL001.
Shares of Streamline Health Solutions, Inc. STRM got a boost, surging 123% to $4.9525 after the company announced MDaudit will acquire the company for $5.34 per share in cash.
Healthcare Triangle, Inc. HCTI shares were also up, gaining 105% to $0.0119.

Equities Trading DOWN

Elong Power Holding Limited ELPW shares dropped 62% to $1.31.
Shares of Brooge Energy Limited BROG were down 58% to $1.7699. Brooge Energy announced voluntarily delisting from the Nasdaq.
Revelation Biosciences, Inc. REVB was down, falling 52% to $0.9394 after the company announced a $4 million public offering.

Commodities

In commodity news, oil traded down 1.1% to $61.17 while gold traded up 1.4% at $3,339.40.

Silver traded up 0.6% to $33.355 on Thursday, while copper rose 0.9% to $4.7170.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 fell 0.1%, while Spain's IBEX 35 Index rose 0.2%. London's FTSE 100 fell 0.1%, Germany's DAX 40 fell 0.2% and France's CAC 40 gained 0.2% during the session.

Asia Pacific Markets

Asian markets closed higher on Thursday, with Japan's Nikkei gaining 1.88%, Hong Kong's Hang Seng Index rising 1.35%, China's Shanghai Composite Index rising 0.70% and India's BSE Sensex rising 0.39%.

Economics

U.S. initial jobless claims rose by 14,000 from the previous week to 240,000 in the week ending May 24th, compared to market estimates of 230,000.
The U.S. economy shrank at an annualized rate of 0.2% in the first quarter, compared to the initial estimate of a 0.3% decline.

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