S&P 500, Nasdaq open higher on Nvidia Q1 earnings bump

The S&P 500 (^GSPC) and the Nasdaq Composite (^IXIC) are grooving to the tune of Nvidia's (NVDA) fiscal first-quarter earnings beat reported after the market close on Wednesday. The Nasdaq is in the green, seeing gains as high as 190 points at Thursday's market open. The Dow Jones Industrial Average (^DJI) is the standalone index laggard this morning.

Morning Brief Anchors Seana Smith and Brad Smith examine the bump that the broader market is getting from the chip giant's overwhelmingly positive earnings print.

Catch Yahoo Finance's interview with Nvidia CEO Jensen Huang here.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Luke Carberry Mogan.

Video transcript

You got some great folks ringing the opening bell at the NASDAQ.

They get some fun.

Fetty hit the button.

All right.

Bowhead specialty.

Reeling the, uh, ringing the opening bell at the NYSC with the whale.

My goodness.

Uh, that's not a crypto company, I don't think.

But anyway, that aside, we're taking a look at the major averages here out of the gate this morning, the Dow and the NASDAQ in negative territory.

You just barely here.

Actually, we're gonna wait for that NASDAQ to Calibrate for a hot second.

But anyway, the dow right now was down by about 1 7%.

There we go.

The NASDAQ did not fail me.

Here it is.

It's up by about 1.1%.

I'm sitting here scratching my head.

I'm like, even with these games from NVIDIA can't be.

It's up everyone.

Well, let's talk about why it's up so much.

Am I ever seeing really the out performance within the NASDAQ?

And that has to do with what you are looking at on your screen, the chip stocks and we've got NVIDIA Brad, you're right to point that out just about 7% right now.

You can see it, I guess this is an intraday chart here, but we take a look at the year to day climb.

We're now looking in gains of 100 and 6% here on the back of that stronger than expected and very, very uh bullish quarter here that we just heard from NVIDIA Jensen Wong joining Yahoo Finance in an exclusive interview, talking about that growth and the demand that they have been seeing here for their products and also the fact that demand continuing to outpace supply and exactly what that means.

Longer term story for that name.

And you can see NVIDIA as we see that move to the out of nearly 8% gain opening above 1000 bucks this year.

You're also seeing some gains across the board.

When you take a look at Broadcom, take a look at Taiwan Semiconductor.

We were talking about the name earlier in the trading day.

Even Amen here, Mike Ron opening to the upside here.

So really adding some life and excitement here throughout the chip sector, bro.

Yeah, I know, I I'll tell you what we've run through so many of the numbers here on a video.

I'm just gonna talk about vibes here.

It feels a lot like Steph curry putting the team on his back, Davidson back when he was in March madness.

They went through Gonzaga, they went through Georgetown, they went through Wisconsin.

Why do I mention this?

It feels like every time we're going quarter after quarter here with NVIDIA saying they can't possibly deliver another bang up report or performance.

They do it again.

But why?

Well, even like Steph Curry at Davidson back then he was just getting started, started.

The great I like that.

Now you're gonna come with us sports ball.