Stock Market Today: Stocks Gain As Nvidia Rises on Fresh AI Excitement

• Indexes rose Thursday, boosted by a rally in chip stocks.
• Nvidia rose 3% to a fresh high after CEO Jensen Huang unveiled a new set of AI products at the CES tech conference.
• Shares of Micron also rose on the fresh AI hype.

Stock indexes gained Tuesday as chip darling Nvidia edged toward record highs and as traders braced for new economic data later in the week.

You are watching: Stock Market Today: Stocks Gain As Nvidia Rises on Fresh AI Excitement

The Dow Jones Industrial Average rose almost 200 points, while the benchmark S&P 500 and the Nasdaq Composite also edged up.

Nvidia flirted with record highs, gaining as much as 3% in pre-market trading before opening nearly flat around $150 a share.

Here’s where US indexes stood shortly after the 9:30 a.m. opening bell on Tuesday:

The chip maker’s latest rise comes after CEO Jensen Huang delivered the keynote address at CES on Monday evening, unveiling a new set of AI products and partnerships for the company. The new initiatives range from robotics and autonomous cars to agentic AI.

Huang’s talk generated a fresh burst of enthusiasm for AI at a time when there are few other catalysts to push tech shares higher before earnings season begins later in January. Chip stocks were broadly higher, extending a rally from Monday after a strong earnings report from Foxconn, a contract manufacturer of chips.

Micron Technology was up 6% in early trading after Huang said the company is providing memory to Nvidia’s new set of AI-powered gaming chips. The two companies have worked in partnership for several years on other initiatives.

See more : More Tailwinds Building To Boost Stock Market Next Year, According to Fundstrat’s Tom Lee

Investors will be tuned into fresh economic data later this week.

The Job Openings and Labor Turnover Survey is due at 10 a.m. ET on Tuesday. On Wednesday, ADP will publish private payroll data, which will be followed on Friday by the December nonfarm payrolls report. The report is expected to show US employers added 155,000 jobs last month and the unemployment rate is expected to remain at 4.2%.

Here’s what else is happening:

In commodities, bonds, and crypto:

• West Texas Intermediate crude oil rose 0.9% to $74.23 a barrel. Brent crude, the international benchmark, was up 1% to $77.04 a barrel.
• Gold rose 1% to $2,676.50 an ounce.
• The 10-year Treasury yield was up two basis points to 4.642%.
• Bitcoin was nearly flat at $100,438.