New York, United States – Wall Street stocks resumed their upward climb early Wednesday following strong results from artificial intelligence player Nvidia as US Treasury yields retreated.
Nvidia said it made a profit of $9.2 billion on revenue of a whopping $18.1 billion in the third quarter, compared with $5.9 billion in the same quarter a year earlier.
Shares of the Silicon Valley chip company dipped early Wednesday, but analysts noted they had risen sharply in weeks prior to the earnings.
About 15 minutes into trading, the Dow Jones Industrial Average was up 0.5 percent at 35,264.04.
The broad-based S&P 500 gained 0.6 percent to 4,566.85, while the tech-rich Nasdaq Composite Index jumped 1.0 percent to 14,337.20.
Stocks have risen with few pauses since late October amid expectations that the Federal Reserve will not hike interest rates further.
The yield on the 10-year US Treasury note fell further on Wednesday.
Analysts also cited news of a four-day truce in the Gaza war during which Hamas will free at least 50 hostages following the deadly October 7 attack on Israel.
Orders for manufactured goods produced in the United States fell sharply in October, dragged down by a steep decline in transportation equipment orders, reversing an overall increase in September.