Stocks closed sharply higher for a second time in as many days this holiday-shortened trading week, although Nvidia and other semiconductor shares fell on a report Meta Platforms may use Google's AI chips in their data centers.

Investors have worried about lofty technology valuations amid concerns over steep artificial intelligence spending.

The Dow Jones Industrial Average surged 664 points, marking a three-day winning streak, as investor focus shifted to the Federal Reserve's potential December rate cut. This sentiment was further fueled by reports of a potential Fed chair candidate favoring lower rates and comments from New York Fed President John Williams.

Major stock indexes closed higher Wednesday ahead of AI darling Nvidia's highly anticipated quarterly results after the bell, with the Dow Jones Industrial Average and S&P 500 snapping four-session losing streaks.

NASDAQ has also managed to gain some ground ahead of NVIDIA’s report. Strategy, which was down by 10.9%, was the worst performer in the NASDAQ index today. The stock suffered a strong sell-off as Bitcoin declined below the $90,000 level amid broad pullback in crypto markets.

Nvidia shares rose about 5% in off-hours trading following the AI chipmaker's earnings on Wednesday. + That would be well above the average price gain for the past eight quarters on the trading day after earnings,

Dow industrials add more than 600 points, biggest gain since August. New Zealand's Central Bank Cuts Rates The Reserve Bank of New Zealand lowered interest rates further in an effort to spur recovery in an economy that for now remains moribund, with ...

Major stock indexes erased big morning gains and closed sharply lower Thursday, a day after AI darling Nvidia reported quarterly results above analysts' lofty expectations.