Happy Friday! Nvidia surged to fresh all-time highs ahead of next week’s earnings report as Wall Street doubles down on the AI boom. Read on to see why analysts believe Nvidia’s rally may still be in its early stages — and the catalysts that could fuel the stock’s next big move.

And Cerebras, an AI company, made a stunning Wall Street debut Thursday, instantly drawing comparisons to Nvidia as investor appetite for AI stocks remains red hot. Read on to see why traders are piling into the stock, and whether this newcomer could emerge as a serious AI contender after nearly doubling on its first day.

Plus, if you’re looking for an AI-powered advantage that helps you anticipate market moves instead of reacting to them, check out today’s sponsor.

In Today's Edition

• MARKET RECAP

• MARKET HEATMAP

• FIVE ZINGERS

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Nvidia Erupts To New Highs Before Earnings — Wall Street Sees 49% More Upside

Nvidia surged to all-time highs ahead of next week’s earnings report as Wall Street doubled down on the AI giant’s growth outlook, with one top analyst now seeing substantially more upside ahead.

In addition, the company got great news as the U.S. government has authorized the sale of Nvidia’s powerful H200 AI chips to 10 Chinese tech giants, and allowing them to purchased up to 75,000 chips each.

Read on to see why analysts believe Nvidia’s rally may still be in its early stages — and the catalysts that could fuel the stock’s next big move.

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Yesterday: U.S. indexes finished higher Thursday, with the Dow reclaiming the 50,000 level for the first time since February, while the S&P 500 and Nasdaq both closed at fresh record highs. Investor sentiment was boosted by resilient economic data, as retail sales rose 0.5% in April, marking a third straight monthly increase and reinforcing confidence in consumer spending despite persistent inflation pressures. Markets also monitored the conclusion of the ongoing U.S.-China summit for potential developments on trade and economic cooperation. Meanwhile, equities remained on track for a strong weekly finish, with the S&P 500 and Nasdaq each headed for a seventh consecutive week of gains.

On Our Radar: Analysts will be paying attention to the Empire State manufacturing survey, industrial production, and capacity utilization data for clues about the U.S. economy. On the earnings front, all eyes will be on Home Depot (HD) which will report earnings before the market opens on Tuesday.

Shares of Cisco (CSCO), Ford (F), Applovin (APP), and Nvidia (NVDA) were flying high to lift the market to new all-time highs. Meanwhile, Qualcomm (QCOM), Sandisk (SNDK), Boeing (BA), and Doximity (DOCS) were among the top laggards on the day. But those weren’t the only companies making big moves. Here’s a look at some of the biggest winners and losers on Thursday.

Discover how the market is moving with our interactive heatmap. Filter by market cap, or click on any box to explore specific sectors or assets in more detail.

Commander In Trades: President Trump’s latest ethics filing revealed a staggering 3,642 stock transactions in just one quarter — averaging nearly 60 trades every trading day. But it’s not just the volume catching attention, but several patterns inside the filings that raise bigger questions.

Revved Up: Ford just posted its biggest two-day rally since 2020 after Wall Street suddenly latched onto a surprising new AI-related opportunity hidden inside the company. Even more intriguing, history suggests this type of breakout move has led to massive gains before.

SqueezeX: SpaceX IPO could send Wall Street into full launch mode as investors fight over an unusually tiny public float. One former Goldman Sachs executive says the setup may create less “price discovery” and more “price liftoff.” Here’s everything you need to know.

Party Gains: Investors love debating which political party is “better” for markets, but the historical data may tell a very different story. One analyst’s breakdown of stocks, Bitcoin, and gold uncovered a surprising trend.

Stock Of The Day: Shares of Ford have been on cruise control during a massive rally, but traders are already watching these important levels for signs the move could stall. Read on to see what price zone may become the market’s next battleground.

Live On Sunday: The Short-Term Strategy For Trading Oil, VIX, And SPY Volatility

Oil has been making violent moves on every new Iran update, while volatility and positioning continue setting up fast intraday swings underneath the surface.

Chris Capre is breaking down the exact SPY levels, VIX behavior, and momentum setups he’s watching right now across semis, energy, and short-term directional trades. He’ll also show how options flows and gamma positioning can help traders stay ahead of sudden reversals instead of reacting after they happen. Some of the sharpest moves in this market are developing within hours.

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