New York's Nasdaq index closed at a record high on Thursday, buoyed by strong results from chipmaker Nvidia.
Meanwhile, European stock markets rose on encouraging reports on business activity, but ended mixed.
Nvidia reported after hours on Wednesday that its quarterly profit rose sevenfold, driven by demand for chips to power artificial intelligence in data centers.
“Wall Street is a corporate town this morning, with new momentum from giant Nvidia's strong results released late Wednesday,” said Joe Mazzola, analyst at Charles Schwab.
“NVIDIA followed suit in reporting first-quarter earnings, beating analysts' expectations for earnings per share, revenue and guidance.”
The chipmaker, currently the third-largest company by market capitalization, also announced a 10-for-1 stock split and a 150% increase in its dividend.
The company's stock price rose 9.4% in New York trading shortly after opening, followed by shares of other semiconductor manufacturers such as ASML and AMD.
As a result, the Nasdaq and S&P were on track to close at all-time highs, while the Dow Jones Industrial Average, which does not include Nvidia, fell, pulled down by financial stocks.
In Europe, stocks in Frankfurt and Paris initially rose after a major survey showed business activity in the euro zone accelerated in May, but lost most of their gains in late trading.
The HCOB Eurozone Purchasing Managers' Index (PMI) released by S&P Global rose to 52.3 from 51.7 in April, the highest level in 12 months. A number above 50 indicates growth, a number below 50 indicates contraction.
The rise in the PMI was led by the services sector, which saw activity increase for a fourth straight month, helped by new business ventures. Manufacturing, while still below 50, saw its decline slow.
“The PMI data further eased growth concerns over Europe, providing moderate support to European shares and the single currency,” said Fawad Razakzada, analyst at City Index.
The London stock market fell again a day after the UK's annual inflation data came in better than expected, dampening hopes that the Bank of England would cut interest rates soon.
Traders largely ignored news on Wednesday that Conservative British Prime Minister Rishi Sunak had called a July 4 general election.
The right-wing Conservative Party, which has been in power since 2010 but has been plagued by disappointment over Brexit, dissatisfaction with the rising cost of living and a litany of scandals, has consistently trailed the main opposition Labor Party in opinion polls for two years. and are lagging behind.
“Markets remain calm until the full Conservative and Labor election manifestos are released, albeit sooner than expected,” said Russ Mould, investment director at AJ Bell.
Meanwhile, crude oil prices fell for the fourth consecutive day and gold prices also fell.
– Key figures as of around 15:30 GMT –
New York – Dow Jones Industrial Average: down 0.7% to 39,381.05
New York – S&P 500: up 0.2% to 5,316.65
New York – Nasdaq Composite Index: up 0.8% to 16,926.90
London – FTSE 100: down 0.4% to 8,339.23 points (close)
Paris – CAC 40: up 0.1% to 8,102.33 (close price)
Frankfurt – DAX: 18,691.32 (close price) up 0.1%
EURO STOXX 50: up 0.3% to 5,037.60 (close)
Tokyo – Nikkei Stock Average: Up 1.3% to 39,103.22 (closing price)
Hong Kong – Hang Seng Index: down 1.7% to 18,868.71 (close price)
Shanghai Composite: down 1.3% to 3,116.39 (close)
Dollar/JPY: rose to 157.10 yen from Wednesday's 156.75 yen
EUR/USD: rose from $1.0826 to $1.0828
Pound/dollar: down from $1.2717 to $1.2713
EUR/GBP: up from 85.10 pence to 85.17
West Texas Intermediate: down 0.5% to $77.17 per barrel
Brent crude oil: down 0.3% to $81.62 per barrel
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