NVIDIA Corp NVDA shares were trading up on Thursday, lifted by overall market strength following stronger-than-expected U.S. economic data and renewed optimism over U.S.-China relations.
What To Know: The broader semiconductor sector moved higher after the U.S. Census Bureau reported that durable goods orders increased 9.2% in March, marking the biggest monthly gain since July 2024 and far exceeding forecasts of a 2% rise.
The jump was primarily driven by transportation equipment orders, which surged 27% due to a 139% spike in nondefense aircraft orders. While this category accounted for most of the headline growth, underlying demand in other sectors remained weak. New orders excluding transportation were flat, with computers and electronic products, a category relevant to Nvidia’s supply chain, declining 1.2%. Within that, computers and related products saw a 2.9% drop in new orders, indicating ongoing softness in hardware demand.
Despite this, Nvidia shares gained alongside other tech and chip stocks as the market reacted positively to the headline economic data and comments from President Donald Trump, who announced a meeting with Chinese officials earlier in the day. The meeting raised hopes of improved U.S.-China trade relations, a key factor for companies like Nvidia with significant exposure to global supply chains and international sales.
The increase in Nvidia’s share price reflects broader investor sentiment rather than company-specific developments. With economic signals pointing to potential near-term industrial momentum and geopolitical developments providing a lift to risk appetite, Nvidia benefited from the shift in market tone, even as parts of the tech sector showed signs of soft demand.
NVDA Price Action: Nvidia shares closed Thursday up 3.62% at $106.43, according to Benzinga Pro.
Read Next:
Photo: Shutterstock.
Market News and Data brought to you by Benzinga APIs