Three major indexes rally together... 'Strong results' NVIDIA soars over 4% in after-hours [New York Stock Market Briefing]

Korea Economic Daily

Summary

Reported that the three major New York indexes closed higher.
Stated that NVIDIA reported strong results that beat market expectations, sending the stock up more than 4% in after-hours trading.
Reported that the Federal Open Market Committee (FOMC) minutes emphasized maintaining current rates due to inflation concerns, reducing expectations for a year-end rate cut.

The three major New York indexes closed higher.

On the 19th (U.S. Eastern Time) at the New York Stock Exchange, the Dow Jones Industrial Average closed at 46,138.77, up 0.1% from the previous trading day.

The Standard & Poor's (S&P) 500 index rose 0.38% to 6,642.16, and the Nasdaq Composite closed up 0.59% at 22,564.23.

The Dow and the S&P 500 turned higher after 5 trading days, and the Nasdaq after 3 trading days. The S&P 500 was up as much as 1.09% intraday, and the Nasdaq rose as much as 1.73%. The Philadelphia Semiconductor Index, composed of AI and semiconductor-related stocks, also surged as much as 3.07% intraday.

The New York market, which had been trading mostly flat, succeeded in closing higher as buying in tech stocks led by NVIDIA flowed in late in the session.

After the close, NVIDIA said third-quarter revenue was $57.01 billion and earnings per share were $1.30. This exceeded market estimates of $54.92 billion in revenue and $1.25 in earnings per share. As a result, the stock jumped more than 4% in after-hours trading.

The minutes of the October Federal Open Market Committee (FOMC) released that day were "hawkish" (favoring tighter monetary policy). The minutes show that "many" participants, worried about inflation, leaned toward keeping the current interest rate.

According to the CME FedWatch, the federal funds rate (FFR) futures market priced in a 33.6% chance that the U.S. central bank (Fed) will cut rates by 25bp in December, as of around 3:56 p.m. in New York. This is a 16.5 percentage-point retreat from the 50.1% implied in the previous session.

By stock, Alphabet, Google's parent company, rose 3% on market praise for the AI model Gemini 3 it released the previous day.

Tesla rose 0.68% after the Arizona state government approved its vehicle-hailing service, the permit needed to operate robo-taxis. Amazon (0.06%) and Apple (0.42%) also managed to rebound.

No Jeong-dong, Hankyung.com reporter dong2@hankyung.com