Big Tech Fuels S&P 500 Rally as Nvidia, Microsoft Lead Charge

Nvidia’s bullish sales outlook has reignited Optimism across Big Tech, propelling the S&P 500 within 4% of its February peak despite ongoing US-China chip trade restrictions. The chipmaker’s shares hover near record highs alongside Microsoft, with both firms driving what analysts describe as a sustained market uplift.

"There’s still more gas in this tank," remarked BRETT Ewing of First Franklin Financial Services, reflecting sector-wide confidence after strong earnings. The rally stems from easing trade tensions and resilient demand for cloud infrastructure, software, and digital advertising—even amid tariff threats.

Tesla’s 56% surge since April 8 eclipses gains by Nvidia (40%) and Microsoft (30%), while Bloomberg’s ’Magnificent Seven’—Nvidia, Microsoft, Tesla, Apple, Alphabet, Amazon, and Meta—collectively contributed nearly half of the S&P 500’s 19% rebound. These titans now represent a third of the benchmark index.