Stock Market Rally Continues as Nvidia, GE Vernova Lead New Buys Amid Oracle-Driven AI Stocks

Dow Jones futures rose slightly overnight, with Nvidia, GE Vernova, and Oracle leading new buys. S&P 500 and Nasdaq futures also rose. The stock market rally began with the S&P 500 and Nasdaq hitting record highs, driven by Oracle and Taiwan Semiconductor. However, the indexes weakened in the afternoon, closing mixed. The CPI inflation report is scheduled to be released.

Dow Jones futures rose slightly overnight, with Nvidia, GE Vernova, and Oracle leading new buys. S&P 500 and Nasdaq futures also rose, driven by Oracle and Taiwan Semiconductor. The stock market rally began with the S&P 500 and Nasdaq hitting record highs, but the indexes weakened in the afternoon, closing mixed. The CPI inflation report is scheduled to be released.

Oracle (ORCL) and Taiwan Semiconductor (TSM) were key drivers of the market gains, with Oracle announcing ambitious growth targets for its cloud infrastructure, projecting a 77% increase by FY26, driven by AI demand First Look: Oracle (ORCL) and Taiwan Semiconductor (TSM) Lead Market Gains^[3]. Taiwan Semiconductor reported a 34% year-over-year increase in August sales, driven by strong demand for AI chips First Look: Oracle (ORCL) and Taiwan Semiconductor (TSM) Lead Market Gains^[3].

However, the market rally was short-lived as the indexes weakened in the afternoon, closing mixed. The CPI inflation report, scheduled to be released, is likely to influence market sentiment. Investors are closely watching the report for any signs of inflationary pressure, which could impact monetary policy decisions.

The August nonfarm payrolls report, set for release at 8:30 a.m. ET, is also expected to influence market sentiment. Economists polled by Dow Jones expect the U.S. economy added 75,000 jobs last month, with unemployment forecast to rise to 4.3% S&P 500 futures rise slightly ahead of August jobs report: Live updates^[1]. The report follows the release of weaker-than-expected ADP private payrolls data, which may lend support to the Federal Reserve's case for an expected rate cut at its September policy meeting.

Investors are heading into the August nonfarm payrolls report with stocks coming off of a fresh record. The S&P 500 closed at a new high on Thursday, thanks to an afternoon boost in risk appetite. Stocks are also on pace for a winning week, with the S&P 500 climbing 0.7%, the technology-heavy Nasdaq Composite registered a 1.2% gain, and the 30-stock Dow has gained 0.2% S&P 500 futures rise slightly ahead of August jobs report: Live updates^[1].

In the overnight session, Tesla (TSLA) shares rose 2% in the premarket after the electric vehicle maker filed a preliminary proxy detailing a lofty incentive plan for CEO Elon Musk S&P 500 futures rise slightly ahead of August jobs report: Live updates^[1]. Broadcom (AVGO) stock advanced more than 4% in after hours trading on Thursday, following the semiconductor company's better-than-expected third-quarter results and rosy outlook S&P 500 futures rise slightly ahead of August jobs report: Live updates^[1].

The stock market rally is expected to continue as investors await the CPI inflation report and the August nonfarm payrolls report. However, the market's reaction to these reports will depend on the data's impact on monetary policy and the overall health of the economy.