Tech Stocks Soar Amid AI Disruption and Market Uncertainty

Technology stocks drive S&P 500 and Nasdaq to two-week highs as investors weigh AI trade risks and tariff uncertainties. Nvidia's upcoming earnings are in focus, with AI investors optimistic about Big Tech's spending. Shares of companies like Axon Enterprise and Workday fluctuate based on earnings-related moves.

The S&P 500 and the Nasdaq surged to two-week peaks on Wednesday, buoyed by a strong performance from technology stocks. Investors are grappling with AI trade risks and looming tariff uncertainties as they await Nvidia's earnings later in the day.

February has been volatile for U.S. equities, with doubts lingering over the effectiveness of massive AI investments by tech giants. Industries such as software, real estate, and logistics have experienced notable declines amid concerns about AI-driven disruptions.

Nvidia's earnings report is highly anticipated, with the company's stock experiencing a 1.6% rise. President Donald Trump referenced stock market gains in his State of the Union address, emphasizing the importance of maintaining tariff and investment agreements with other nations.

(With inputs from agencies.)