Samantha Subin is a digital news associate with CNBC.
The Nasdaq Composite rose to a new record Thursday on better-than-expected quarterly results from Nvidia. The broader market, however, struggled to stay in positive territory. The tech-heavy Nasdaq gained 0.3% to an all-time high. The S&P 500 declined 0.3%, pulling back from its all-time high reached earlier in the session. The Dow Jones Industrial Average lagged, losing 472 points, or 1.2%.
For the bottom line, analysts expect a profit of $5.95 per share. Nvidia’s results have been a focal point for Wall Street, as traders hoped for signs that the excitement around AI is not waning. With its $2.3 trillion market cap, Nvidia also has considerable sway over the broad S&P 500. However, the majority of the stocks in the broad market index fell negative Thursday, indicating a lack of market breadth.
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