Stock Market Today: Nvidia Soars on Earnings, GDP Revised Higher, Jobless Claims Rise

The article discusses the stock market performance on May 25, 2023, with a focus on Nvidia’s earnings report, the revised GDP data, and the jobless claims figures. Nvidia’s shares surged over 24% after the company reported better-than-expected earnings and revenue, driven by strong demand for its AI chips. The US GDP growth for the first quarter of 2023 was revised upward to 1.3%, indicating a resilient economy. However, initial jobless claims rose to 229,000, slightly higher than expected, suggesting a potential slowdown in the labor market. The article also mentions the broader market performance, with the S&P 500 and Nasdaq Composite indices gaining ground, while the Dow Jones Industrial Average declined slightly.

Source: https://markets.businessinsider.com/news/stocks/stock-market-today-nvidia-gdp-earnings-jobless-claims-2024-8