Nasdaq Composite climbs to 3-day high as Nvidia report offsets AI valuation concerns

Traders Union
All News
Financial News
Nvidia surge lifts Nasdaq toward 23,000

All news

Top Stories

Editors' Picks

Crypto News

Financial News

Currencies

Market Voices

Companies

Regulators News

Sholanke Dele

20.11.2025

Nasdaq Composite climbs to 3-day high as Nvidia report offsets AI valuation concerns — Nasdaq futures jumped nearly 480 points

The Nasdaq Composite Index rebounded sharply on Thursday, November 20, as upbeat earnings from Nvidia restored confidence in the artificial intelligence sector and triggered a broad-based recovery across technology stocks. Futures for the Nasdaq index jumped 1.9%, or nearly 480 points, in premarket trading, extending Wednesday’s modest gains and lifting the benchmark to a three-day-high.

- Nasdaq futures jumped nearly 480 points as Nvidia’s strong results boosted AI confidence.

- Nasdaq index reclaimed 50-day EMA at 22,750, turning prior resistance into short-term support.

- Traders await U.S. payroll data to gauge if momentum sustains near the 23,000 level.

The renewed optimism followed Nvidia’s stellar third-quarter results released late Wednesday. The chipmaker reported stronger-than-expected revenue and issued an optimistic sales forecast for the coming quarter. CEO Jensen Huang dismissed concerns about an AI bubble, emphasizing sustained enterprise demand and expanding applications of AI computing. Nvidia shares surged 5.5% in premarket trading, providing a critical lift to the Nasdaq Composite, which had fallen more than 7% from its all-time high near 24,000 earlier this month to nearly a monthly low earlier in the week.

Nasdaq price dynamic (July - Nov 2025). Source: Tradingview

Technically, the Nasdaq’s rebound is now apprehended by the 20-day exponential moving average, which aligns closely with the 23,000 psychological level. A break above this region could confirm a short-term trend reversal, especially as the index has now reclaimed the 50-day EMA at 22,750. That zone, previously acting as resistance, now forms immediate support. However, traders are watching whether the Nvidia-driven momentum can sustain in the cash session, given the broader backdrop of high valuations and mixed macroeconomic signals.

Nasdaq rebound strength depends on the Non-Farm Payrolls data report

The market’s attention is also fixed on the delayed release of the U.S. Non-Farm Payrolls data later today, postponed by 48 days due to the government shutdown. Economists forecast a modest 53,000 increase in employment, up from 22,000 previously. A stronger reading could reinforce the view that the labor market remains tight, pressuring the Federal Reserve to maintain interest rates at current levels for longer. Current market pricing shows just a 30% probability of a December rate cut, down from 60% last week, reflecting renewed caution on policy easing.

If labor data surprises to the upside, it could temper the current recovery and stall the Nasdaq near resistance. Conversely, weaker data that revives dovish expectations may amplify gains and accelerate a move toward 23,500 or higher. For now, momentum favors the bulls, but the sustainability of this rebound hinges on whether macro conditions can align with Nvidia’s optimism-driven rally.

We discussed how the Nasdaq slipped over 250 points as valuation concerns triggered selling pressure. The Nasdaq Composite stayed 5.5% lower month-to-date, its steepest decline in eight months.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.