Why Nvidia and Tesla Keep Sending the Nasdaq Higher

Wall Street was generally in an upbeat mood on Tuesday morning. Coming out of the long holiday weekend, investors were ready to celebrate the announcement of an agreement in principle on raising the U.S. debt ceiling, which had been a key overhang over the stock market. Futures on the Nasdaq Composite (NASDAQINDEX: ^IXIC) were up another 1.5% in premarket trading Tuesday morning after solid gains last week.

Nvidia (NASDAQ: NVDA) is establishing itself as a premier artificial intelligence (AI) stock, and after a massive gain spurred by strong earnings results last week, the chipmaker found its shares rising again early Tuesday. Also, Tesla (NASDAQ: TSLA) continued its recent rebound as its CEO made a big trip to support what will be an essential part of its long-term business.

Shares of Nvidia were up another 5% in premarket trading Tuesday morning. The tech giant followed up on last week's earnings report by releasing new products and services linked to artificial intelligence.

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Source Fool.com