Stock Market Today: Nasdaq Closes Sharply Higher After Blockbuster Nvidia Earnings Report Powers Tech Gains; S&P 500, Dow Also Rise

Tariff Refunds Contribute to Record-Setting Corporate Profit Boost

FROM 40 minutes ago

You may not have seen any money back after a large swath of tariffs were overturned, but corporate America got plenty of tariff refunds—and it’s using them to haul in record-breaking profits.

That’s according to data released Wednesday from the Bureau of Economic Analysis, which showed annualized corporate profits were $400 billion higher in the second quarter than in the first. That’s the largest increase in dollar value on record, aside from the bounce-back after the most severe effects of the COVID-19 pandemic. The bottom line was boosted by an estimated $71 billion in tariff refunds companies got in May and June, according to an analysis of government data by The Tax Foundation think tank.

The data highlights how U.S. businesses are reaping the benefits of a windfall from the Supreme Court’s February decision to strike down the majority of President Donald Trump’s tariffs imposed in 2025. The money is going back to the pockets of companies that paid the import taxes, even though economists say most companies ultimately passed the cost along to consumers.

All those refunds are now showing up in the economic data and may be skewing it.

Read the full article here.

–Diccon Hyatt

Here’s What Wall Street Analysts Are Saying After Nvidia’s Earnings

FROM 47 minutes ago

Are investors back on the Nvidia bandwagon?

On Thursday, it looked like they were. Shares of Nvidia (NVDA) closed up nearly 9%, closing in on their May record highs, after a strong showing from the chipmaker’s quarterly results. Several Wall Street analysts said the latest report helped ease worries heading into the event, though some concerns remain. 

Here’s what the analysts had to say.

–Kara Greenberg

Memory Stocks Underperform Tech as a Whole Thursday

FROM 1 hr 32 min ago

Technology stocks are powering major indexes higher today. Somewhat surprisingly, memory stocks are not.

The Roundhill Memory ETF (DRAM) was down nearly 1% in the final hour of trading Thursday, with Western Digital (WDC) and Micron Technology (MU) ranking among the biggest decliners in the Nasdaq 100 and Sandisk (SNDK) and Seagate Technology (STX) also lower.

Meanwhile, the S&P 500 Information Technology Sector is up roughly 3%, led by surging shares of Salesforce (CRM), CrowdStrike Holdings (CRWD), and Nvidia (NVDA).

Dow Would Be in Red Today If Not for Salesforce

FROM 3 hr 15 min ago

The Dow Jones Industrial Average is up about 0.4% today, or roughly 190 points. It would be in negative territory were it not for Salesforce.

Shares of Salesforce (CRM) are up nearly 22% to $250, adding more than 260 points to the price-weighted index.

Just six of the 30 Dow components are in the green today.

AI ‘Opening Up the Next Big Chapter’ for Veeva Systems, CEO Says

FROM 4 hr 2 min ago

Veeva Systems reported better-than-expected fiscal 2027 second-quarter results, and its chief executive said artificial intelligence is aiding its efforts,

Shares of Veeva (VEEV) are soaring 17% Thursday, a day after the specialized enterprise-software provider for pharmaceutical and biotech companies posted adjusted earnings of $2.35 per share on revenue that jumped 18% year-over-year to $928 million. Analysts surveyed by Visible Alpha had projected $2.22 per share and $905.3 million.

The Pleasanton, Calif.-based firm issued third-quarter projections for adjusted EPS, adjusted operating income, and revenue above estimates, and lifted its full-year guidance for those metrics.

“AI is opening up the next big chapter for Veeva and life sciences,” CEO Peter Gassner said, adding that “by bringing together deep industry applications, agents, data, and consulting, we are helping the industry drive new efficiencies from clinical to commercial and deliver better outcomes for patients.”

Veeva Systems stock, which ranks among the top gainers in the S&P 500 today, has risen 29% since the start of the year.

Nvidia Stock Returns Have Mostly Performed Better Over Intermediate Than Near Term Following Earnings

FROM 5 hr 13 min ago

Nvidia stock is rising today, gaining ground after the company reported earnings and revenue that beat expectations and an upbeat outlook. History suggests it can continue to perform—but not necessarily in the short term.

After the company’s 15 earnings reports since October 2022, the stock has averaged 6.3% one-month returns, rising 40% of the time, according to LPL Financial Chief Technical Analyst Adam Turnquist.

The shares tend to perform better over the intermediate term. Their average returns over three months are near 21%, according to Turnquist, with gains in 70% of periods.

–David Marino-Nachison

CrowdStrike CEO Says the Company Had Its Best Quarter Ever. The Stock Is Rallying

FROM 5 hr 38 min ago

CrowdStrike shares are soaring after the cybersecurity software firm posted what CEO George Kurtz called “the best quarter in CrowdStrike’s history.” 

CrowdStrike (CRWD) shares were up 18% around $222 in recent trading, putting the stock among the biggest winners in the S&P 500 on a strong day for tech stocks and approaching the record high set earlier this month. The company said yesterday it generated $1.47 billion in revenue, up about 26% year-over-year, along with adjusted earnings of 31 cents per share in the quarter. Both figures topped analysts’ estimates. 

The software maker also lifted its full-year forecast, now projecting revenue of $5.99 billion to $6.01 billion, up from the prior range of $5.91 billion to $5.96 billion.

Oppenheimer analysts told clients the results showed the cybersecurity sector is “in the early stages of a multi-year investment cycle” driven by developments in AI. UBS analysts called the quarter “nothing short of stellar,” and said it proved how recent AI developments, including several cybersecurity and hacking incidents involving leading AI models, are driving companies to spend on cybersecurity.

Oppenheimer and UBS lifted their price targets for the stock to $250, while Morgan Stanley raised its target to $238 from $227.

With Thursday’s gains, CrowdStrike shares are up 90% from the start of the year.

–Aaron McDade

Tech Sector Is Only One in Green; S&P 500 Up Anyway

FROM 6 hr 18 min ago

Just one S&P 500 sector is in positive territory in early trading. That’s good enough for the benchmark index to trade in the green.

The S&P 500 Information Technology Sector is soaring 2.7% about an hour after the opening bell, helping the index rise 0.5% overall.

Salesforce (CRM) and CrowdStrike Holdings (CRWD) are leading the sector with gains of 21% and 18%, respectively.

Consumer Staples is the worst-performing sector in early trading, down 1.2%.

Salesforce Stock Soars After Strong Results, Raised Outlook

FROM 7 hr 27 min ago

Salesforce stock is rallying after the enterprise software maker’s second-quarter results topped expectations.

Shares of Salesforce (CRM) were up 10% in premarket trading. The company reported revenue of $11.35 billion, narrowly beating the $11.33 billion analyst consensus, while adjusted earnings per share of $5.90 doubled year-over-year and handily topped the $3.28 forecast.

Looking ahead, Salesforce lifted its full-year sales forecast to $46.1 billion to $46.4 billion, up from $45.9 billion to $46.2 billion previously. Adjusted EPS are now seen coming in between $10.21 and $10.25 for the full year, well above the prior range of $7.93 to $7.99.

Alongside last night’s earnings, Salesforce also announced an expanded deal with Anthropic to introduce “Claudeforce” to its customers, combining Anthropic’s advanced AI models with Salesforce’s software and broad customer base. JPMorgan analysts said the Anthropic deal could help ease worries about AI disruption, as Salesforce shows willingness to partner with AI leaders rather than competing directly with them.

Analysts from JPMorgan, Morgan Stanley, and Jefferies all hiked their price targets for Salesforce’s stock following the report. Morgan Stanley analysts called the quarter “a step in the right direction,” but said they are maintaining a neutral rating until they see lasting evidence of accelerating sales from Salesforce’s new AI products.

Even with Thursday’s rise, shares of Salesforce remain in negative territory for the year. The stock was down more than 20% for 2026 through Wednesday’s close. 

–Aaron McDade

Wendy’s Shares Tumble on Report Trian No Longer Preparing Take-Private Bid

FROM 7 hr 50 min ago

A report that Wendy’s may be taken private caused shares to soar two weeks ago. A new one is causing them to tumble in premarket trading Thursday.

On Aug. 12, Wendy’s shares soared nearly 15% after the Financial Times, citing people familiar with the matter, reported that Nelson Peltz’s Trian Fund Management was “laying the groundwork for a take-private bid” for the burger chain.

However, the stock is sinking 14% before the bell today after Reuters reported that Trian has no plans to make a bid for Wendy’s right now.

Wendy’s shares had been in negative territory for the year before the FT’s report two weeks ago. They entered today up nearly 9% for 2026.

Nvidia Stock Is Rising. Investors Still Buy the Growth Story. 

FROM 8 hr 3 min ago

Investors still want in on AI—or, at least, Nvidia’s piece of it.

The latest data point is the premarket action in shares of Nvidia (NVDA), which were surging 6.5% Thursday after the chip giant late yesterday reported second-quarter sales and EPS that came in higher than Wall Street expected. 

Investors likely focused on the outlook—CEO Jensen Huang said the AI buildout is still at “full steam”—more than the backward-facing numbers. Nvidia delivered guidance of $108 billion in third-quarter revenue, which was ahead of the Street’s consensus closer to $105 billion. 

CFO Colette Kress on the company’s conference call suggested that it could rise some 70% in the next fiscal year despite some supply bottlenecks. 

“The quarter was strong, but the real surprise was management describing demand that could support growth well beyond what the market had penciled in,” Direxion Head of Capital Markets Jake Behan said in emailed comments. “The debate shifted from whether AI spending is peaking to how much longer this buildout can continue.” 

Nvidia’s stock finished yesterday’s session up 12% year-to-date. 

–David Marino-Nachison

Dollar General Stock Jumps on Strong Results, Raised Outlook

FROM 8 hr 56 min ago

Dollar General shares closed Wednesday down roughly 8% for the year. They appear likely to open Thursday in positive territory.

Shares of Dollar General (DG) soared 12% before the bell Thursday after the discount retailer posted better-than-expected second-quarter results and lifted its full-year outlook.

Dollar General reported Q2 earnings of $2.48 per share on net sales that increased 5% year-over-year to $11.29 billion. Analysts polled by Visible Alpha had estimated $2.00 per share and $11.18 billion.

Same-store sales growth of 3.5% topped expectations of about 2.6%, aided by a 2% rise in customer traffic and 1.5% increase in average transaction amount. Placer.ai data indicated ahead of the report that foot traffic had increased sequentially from May to July, as “its hyper-local footprint made it especially well positioned to capture quick, low-distance trips at a time when shoppers were paying closer attention to fuel costs.”

“Our results reflect continued momentum across the business, including our fifth consecutive quarter of customer traffic growth and the sixth consecutive quarter of positive comparable sales growth across all four merchandising categories,” CEO Todd Vasos said.

As a result, the Goodlettsville, Tenn.-based company raised its fiscal 2026 projections for net sales growth, same-store sales growth, and EPS. The new guidance blew past Visible Alpha consensus forecasts.

Dollar General added it intends to repurchase shares in the second half of the fiscal year, which ends Jan. 29, 2027.

Nasdaq, S&P 500 Futures Surge After Blockbuster Nvidia Earnings Report

FROM 10 hr 8 min ago

Futures contracts tied to the Dow Jones Industrial Average slipped 0.1%.

S&P 500 futures pointed up 0.4%.

Nasdaq 100 futures jumped 1%.