Nvidia Propels Global Stock Indices to New Records, Shows Rally Still Has Firepower Array ( [cookie] => c85018-9dae20-eb73e5-6121b5-22543d [current_usage] => 2 [max_usage] => 2 [current_usage_crypto] => 2 [max_usage_crypto] => 2 [lock] => 1 [message] => [error] => [active_member] => 1 [subscriber] => 0 [role] => fsi_macro [visitor_id] => 563296 [reason] => [method] => ) 1

“A guy is influenced by hundreds of people and things, and all show up in his work. To fasten on any one or two is ridiculous.” ~ Bill Evans

Good evening,

This week, Nvidia ($NVDA) released quarterly results that arguably blew away everyone’s expectations. Fundstrat Head of Research Tom Lee has been a vocal advocate for the company’s potential and importance since 2019, when he put the stock on our Granny Shots stock list. He remains enthused about the stock, but it was Nvidia’s impact on the rest of the market that had his attention this week.

The euphoria caused by Nvidia’s earnings report didn’t just drive the S&P 500 and Nasdaq to record levels, but also buoyed Japan’s Nikkei 225 and the pan-Europe Stoxx 600 index. The Nikkei 225 on Thursday broke its previous all-time high, set in 1989, as NVDA results drove demand for Japanese semiconductor-related stocks such as Tokyo Electron ($TOELY), Advantest ($ATEYY), and Screen Holdings ($DINRF). Meanwhile, the Stoxx 600, which had already notched four straight weekly gains, hit record highs and extended its weekly win streak to five as European tech stocks benefited from the AI stalwart’s results.