The New York Stock Exchange is set to open higher on Thursday morning, buoyed by investors' enthusiastic reception of Nvidia's better-than-expected quarterly results.

Half an hour before the opening, the S&P 500 future contract was up by 0.7% and the Nasdaq by over 1.2%, pointing to new record highs for the technology-weighted index.

Wall Street had finished lower on Wednesday evening, with investors feeling the pinch following the release of Fed minutes suggesting that the debate over future rate cuts is still unresolved within the institution.

For the time being, however, traders are likely to put questions about the timing of the Fed's monetary easing on the back burner, and focus instead on Nvidia's results, which confirmed the current craze for AI.

The processor manufacturer, now the world's third-largest capitalization behind Microsoft and Apple, is expected to shine again today after far exceeding expectations with quarterly results that benefited from strong demand for its AI-dedicated graphics chips.

This publication is a pure masterpiece that deserves to be exhibited in the Louvre", commented analysts at Wedbush Securities, who felt that this performance showed that "the AI revolution has only just begun".

The Californian company's shares, already up 91% since the start of the year, have climbed by over 7% in electronic trading, which should further increase its market valuation by some $165 billion.

The share price should thus pass the symbolic $1,000 mark, leading many analysts to revise upwards their price target for the stock, now in the $1,200 zone.

The trend on Wall Street was not penalized by the latest labor market figures, which nonetheless show that employment tensions are still not easing.

The Labor Department reported 215,000 new jobless claims in the USA for the week ending May 13, down 8,000 on the previous week.

Despite this still solid macro-economic backdrop and the uncertainty surrounding the evolution of rates, the yield on ten-year Treasuries fell back towards 4.42%.

Investors are now awaiting the PMI index measuring activity in the US private sector, which will be released early in the session, as well as new home sales figures.

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