Stocks Surge Amid Nvidia's Forecast and Rising Oil Prices

Global stocks edged higher amid Nvidia's revenue forecasts and oil price hikes due to Russia-Ukraine tensions. Nvidia's stock hit a record high before dipping. The S&P 500 and Dow rose, fueled by energy and industrials, while the Nasdaq fell due to losses in Alphabet. Bitcoin neared $100,000.

In an unpredictable trading session on Thursday, global stocks experienced a slight rise. This uptick came as investors processed Nvidia's subdued revenue forecasts, and tensions from the ongoing Russia-Ukraine conflict led to a surge in oil prices.

Nvidia, immensely influential in this year's S&P 500 growth, witnessed its shares hitting a record high early on. However, the company's stock reversed course to decline by about 1% by the session's close, following its forecast of modest revenue growth in the upcoming quarter.

Wall Street saw the S&P 500 and the Dow Jones buoyed by strong performances from energy, industrials, and consumer staples. Meanwhile, communication services stocks weighed down the Nasdaq, particularly due to a drop in Alphabet shares. Bitcoin is nearing the $100,000 milestone, buoyed by expectations of a crypto-friendly Trump administration.

(With inputs from agencies.)