(Updates with latest market prices and developments.)
US benchmark equity indexes were higher intraday, led solely by the technology sector amid post-earnings rallies in shares of Nvidia (NVDA) and several other key players in the domain.
The Nasdaq Composite was up 1.6% at 26,541.6 after midday Thursday, while the S&P 500 rose 0.8% to 7,737. The Dow Jones Industrial Average advanced 0.4% to 53,659.8. The three indexes finished the previous trading session lower, with the Dow snapping a three-day winning streak.
Tech was the only sector in the green intraday Thursday, up 3.2%, while consumer staples saw the steepest decline.
Nvidia shares jumped 9.5%, the second-biggest gain on the Dow, as the tech bellwether's fiscal second-quarter results more than doubled from a year earlier and topped Wall Street's expectations late Wednesday amid record data center sales. Nvidia expects fiscal 2028 revenue to grow about 70% year over year.
The chipmaking giant offered a surprisingly strong sales outlook, while its gross margin guidance provided clarity amid rising memory costs, Morgan Stanley said in a note.
Salesforce (CRM) shares soared 21% intraday Thursday, the best performer on both the S&P 500 and the Dow. The customer relationship management platform late Wednesday increased its full-year revenue guidance after delivering a fiscal second-quarter beat.
CrowdStrike (CRWD) surged 19% intraday Thursday, the second-steepest rise on the S&P 500. The company late Wednesday raised its full-year net new annual recurring revenue amid increasing demand for cybersecurity solutions to address artificial intelligence risks. CrowdStrike reported better-than-expected fiscal second-quarter results.
Hormel Foods (HRL) was the worst performer on the S&P 500 intraday Thursday, down 9.2%. The company lowered its fiscal 2026 sales outlook as it reported mixed third-quarter results, with the top-line pressured amid a challenging consumer environment.
Marvell Technology (MRVL), Workday (WDAY), and Ulta Beauty (ULTA) are scheduled to report after the closing bell Thursday, along with others.
US Treasury yields were little changed intraday, with the two- and 10-year yields at 4.22% and 4.67%, respectively.
The Federal Reserve's annual economic policy symposium at Jackson Hole, Wyoming, was scheduled to kick off Thursday, with Chair Kevin Warsh slated to speak Friday.
Markets are currently pricing in a 66% probability that the central bank's Federal Open Market Committee will keep its benchmark lending rate steady next month, with the remaining odds in favor of a 25-basis-point increase, according to the CME FedWatch tool.
West Texas Intermediate crude oil edged up 0.6% to $82.76 a barrel intraday, while Brent rose 1.2% to $88.89.
Iran and Oman are working on finalizing a deal that will see both countries share control of the Strait of Hormuz, Reuters reported. Qatari Prime Minister Sheikh Mohammed bin Jassim Al Thani met with Iranian Foreign Minister Abbas Araghchi Thursday and discussed the emerging Hormuz agreement between Tehran and Oman, CNN reported.
Spot gold rose 0.5% to $4,612.27 per troy ounce, while silver gained 2.5% to $70.52 per ounce.
