Nvidia Boosts AI Rally as Late Gains Lift Stocks After Tech-Driven Selloff – Europe Market Wrap

Stocks climbed in late hours on speculation that Nvidia Corp.’s upbeat earnings will add fuel to the artificial intelligence- driven rally.

The S&P 500 rose after the close of regular trading. The world’s most- valuable chipmaker climbed about 5% after giving a solid revenue forecast for the current period, even as a slowdown in China weighed on results. The outlook shows Nvidia is ramping up production of Blackwell, its latest semiconductor design.

In regular hours, equities had extended losses in the final stretch of US trading, with the S&P 500 closing down by 0.6%. News reports that the Trump administration is moving to restrict the sale of chip design software to China spurred a plunge in Cadence Design Systems and Synopsys. Meantime, Tesla was said to begin its robotaxi service in Austin on June 12.

Treasuries pared losses after solid investor demand in a $70 billion auction of five-year notes offered the latest evidence of appetite for shorter-term securities. As expected, minutes of the latest Federal Reserve policy meeting reflected a wait-and-see approach. A dollar gauge added 0.3%. Oil climbed as traders weighed risks to Iranian and Russian supplies.