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Stocks rise on Wall Street and pull closer to weekly gains as AI stocks climb [Globe and Mail, The (Toronto, Canada)]
Last broadcom inc. earnings: 3/12 04:15 pm
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US:NASDAQ Investor Relations: investors.broadcom.com
The S&P 500 jumped 0.7%, adding to gains made on Thursday. The Dow Jones Industrial Average rose 259 points, or 0.5%, as of 11:06 a.m. Eastern. The Nasdaq jumped 0.9% and is now slightly higher for the week. Technology stocks with an focus on artificial intelligence once again led the market. Nvidia jumped 2.6% and Broadcom rose 1.4%. Oracle rose 6.7% on news that it, along with two other investors, had signed agreements to form a new TikTok U.S. joint ventur e. Oracle, Silver Lake and MGX each get a 15% share in the popular social video platform, ensuring that it can continue operating in the U.S. Company earnings and how companies are performing amid tariffs and inflation were a key focus for Wall Street. Nike slumped 8.7%, as the impact from tariffs overshadowed an otherwise strong quarterly profit report. Frozen potato maker Lamb Weston fell 23.8%, despite also beating Wall Street's profit and revenue forecasts. Winnebago Industries jumped 12.3% after turning in profi
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