Stocks open higher after Nvidia's overwhelming Q4 beat

Stock market indexes (^DJI, ^IXIC, ^GSPC) open Thursday's session in the green coming off of Nvidia's (NVDA) overwhelming fourth-quarter earnings beat. From the floor of the New York Stock Exchange, Yahoo Finance Reporter Madison Mills monitors this morning's market action seen in US equities and Japan's Nikkei 225 index (^N225).

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Luke Carberry Mogan.

Video transcript

SEANA SMITH: Maddie, what's the word on the Street? I'm guessing lots of chatter about those Nvidia results last night.

MADISON HILLS: My sources here on the floor saying the CEO of Nvidia is the Taylor Swift of this stock market today. And I'm just taking a look at the boards. I mean, we love the Taylor Swift mention. Seeing a lot of green on your screen.

The S&P up 1.3%. Even the Russell, which has been struggling, up 4/10 of a percent. The question for me though, and this is what Jay Woods just told me this morning. How does Nvidia perform in the first 30 minutes of today's trade?

That is what's going to indicate whether or not they're going to be able to break out of this kind of tight upper range that they've been in. Having said that, they're obviously doing very well, adding the entire market cap of a Cisco, of a McDonald's into their overall market cap after that earnings report yesterday. And we're seeing that read through to other chips names as well. Intel, AMD, all up significantly in today's trade. I quickly want to mention though, you guys, to be extra smart.

Look at what's going on in Japan with the Nikkei index hitting a 34-year high after we've been saying that we're in a recession in Japan for some time now. Why is that? That's because of some of the suppliers to Intel soaring in the Nikkei index overnight.

So interesting to see that Nvidia is not only defining the US trade. It's leading to a global stock market rally. My big question, what's going to be happening with Nvidia as we continue throughout the trading day today? Is it going to continue to lead us to higher highs? We'll find out as the day goes on.

BRAD SMITH: Yeah, good shout out there. As the Nikkei, you're seeing there on the screen, up by about 2.2%. It's where it ended the day's trading activity. Thank you so much, Maddie.