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Tech stocks lead markets at the open

In early trading on U.S. markets, technology stocks set the tone for the indexes in the first minutes of Thursday’s session. Nvidia’s upbeat outlook accelerated buying despite weakness elsewhere in the market, laying the groundwork for a broad-based advance in tech.

In early trading, Nvidia shares rose more than 6%, while semiconductor makers Intel and SK Hynix also joined the rally. The move stood out as the main sign that demand for chipmakers was strengthening again.

Earnings drive gains in software stocks

The advance was not limited to chip stocks. Strong financial results and forward guidance sent shares of Salesforce, Okta and CrowdStrike up by double digits, adding to buying interest in software names as well.

Marc Benioff said concerns about the software sector should be over, adding that the "SaaSpocalypse" narrative needs to end.

Positive messages from companies supported software stocks, which have been under pressure in recent weeks. On the market side, the development showed that investors are placing more weight than ever on earnings and company forecasts.

Clear split seen across S&P 500 sectors

According to the early trading picture based on Yahoo Finance data, the Technology sector (XLK) stood out as the only major sector in positive territory within the S&P 500. While it did not fully erase losses in the rest of the market, it was the main factor helping to balance the broader picture.

By contrast, weakness was seen in Utilities (XLU), Energy (XLE) and Communication Services (XLC). This divergence across sectors showed that selective, tech-focused buying was dominating intraday trading.

Stocks investors watched closely

Among the stocks investors were closely tracking in the morning were the following companies:

  • Nvidia, Intel, SK Hynix and Marvell
  • Salesforce, CrowdStrike, Sandisk and Dollar Tree

Early pricing showed that the market remained sensitive to technology and earnings-driven news flow. Companies that issued strong outlooks, in particular, saw their shares outperform the broader sector at the start of the session.

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