Nvidia-led surge in chip stocks lifts Wall Street out of Fed blues

By Johann M Cherian (Reuters) – U.S. stock indexes climbed on Thursday as a strong sales forecast from Nvidia boosted chipmakers and outweighed worries that the Federal Reserve will keep raising interest rates for longer after data highlighted a tight labor market. Nvidia Corp surged 14.3% to a more than 10-month high after the chip designer forecast quarterly sales above estimates and reported a surge in the use of its chips to power artificial intelligence services such as chatbots. Other chipmakers such as Broadcom Inc, Qualcomm Inc, Intel Corp and Advanced Micro Devices Inc rose between 0….

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