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Why Nvidia Stock Bounced Back Today

TheMotleyFool

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Why Nvidia Stock Bounced Back TodayPhoto, wide shot, wide-angle lens, Telecom equipment supplier, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.theapi.app/temp/3967c11c-b755-4d39-87d0-acc853384c80.png

Shares of Nvidia (NASDAQ: NVDA) were recouping losses from yesterday's rout today as investors enjoyed a "risk-on" movement after several volatile sessions in Nvidia and the broad market.

Today's jump was sparked by an employment report that showed a decline in initial unemployment claims, cooling off fears that the economy was possibly headed toward a recession after the July unemployment rate jumped from 4.1% to 4.3%.

As a result, Nvidia stock was trading up 6.3% as of 2:17 p.m. ET, while the Nasdaq had jumped 3% at the same time.

Source Fool.com

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