What's Going On With Nvidia Shares

NVIDIA Corporation NVDA shares are trading higher by 8.65% to $149.67 during Thursday's session. The stock is trading higher in sympathy with major indices following key U.S. economic data, which showed a slowdown in inflation and a rise in jobless claims. This has alleviated some concerns of high inflation and a tight labor market.

What Happened With CPI Data?

The headline CPI rose 7.7% in October, down from 8.2% in September, according to data from the U.S. Bureau of Labor Statistics.

The October CPI reading came in below average economist estimates of 8%.

Thursday's highly anticipated CPI inflation reading comes a week after the Federal Reserve raised its benchmark rate by 0.75% for the fourth straight time in a continued fight against historically high inflation...Read More

According to data from Benzinga Pro, NVDA has a 52-week high of $346.47 and a 52-week low of $108.13.