New York, NY – The S&P 500 and Nasdaq 100 showed significant gains on Thursday after a brief slowdown following Nvidia’s announcement of a potential growth slowdown in 2025. Despite concerns about Nvidia’s future growth, the company exceeded expectations in Q2 earnings and announced plans for a share buyback, which seemed to calm the market.

Nvidia’s forward guidance fell short of market expectations, causing the stock to drop by nearly 2.97%. However, major Wall Street banks, including Bank of America and Wells Fargo, raised their price targets for Nvidia to $165. Despite the dip in Nvidia’s stock, other semiconductor stocks like Broadcom saw positive movement with a 1.7% increase.

Overall, the earnings season has seen some volatility, but the general trend remains positive. Earnings are on the rise, with expectations for further growth in the fourth quarter and into 2025. Despite uncertainties surrounding the upcoming US election and geopolitical tensions, businesses are gradually recovering, and the market appears poised to overcome current challenges.

In technical analysis, the S&P 500 is nearing all-time highs and shows signs of continued bullish momentum. Immediate support levels are at 5538 and 5500, with resistance levels potentially emerging at key milestones like 5700. The Nasdaq 100 also demonstrates positive technical indicators, with a break above 20000 likely to encounter resistance at previous swing highs before reaching all-time highs around 20790.

As the market continues to navigate uncertainties, investors are closely monitoring key levels and indicators to gauge future movements. The positive earnings season and overall market recovery provide optimism for the future, despite ongoing challenges.