US Futures Steady After Nvidia-Fueled Rally

US stock futures held steady on Friday after the S&P 500 and Nasdaq Composite notched new all-time closing highs on the back of an impressive rally by Nvidia.

In extended trading, Carvana surged more than 20% after the used car retailer said it expects retail units to grow in 2024, while Block jumped 14% on higher-than-expected revenues.

In regular trading on Thursday, the S&P 500 and Nasdaq Composite advanced 2.11% and 2.96%, respectively, their best one-day gains since early 2023.

The Dow also climbed 1.18% to fresh record highs.

Ten out of the 11 S&P sectors finished higher, led by technology, consumer discretionary and communication services.

Those moves came as Nvidia rallied 16.4% on upbeat quarterly results, driven by excitement over artificial intelligence.

Other chipmakers including Super Micro Computer (32.9%), Advanced Micro Devices (10.7%) and Broadcom (6.3%) also gained sharply.