Shares of several companies in the broader technology sector, including NVIDIA Corporation (NASDAQ:NVDA), are trading higher amid overall market strength as stocks rebound from recent weakness. The semiconductor sector has also experienced volatility amid rate hike concerns.
Nvidia shares otherwise saw weakness last week and were trading lower amid continued volatility as investors digest the latest U.S. inflation data, which came in higher-than-expected.
The headline CPI rose 8.3% in April, down slightly from 8.5% in March but above economist estimates of 8.1%. Prior to 2022, the CPI hadn't risen 8.3% in any month since 1982. Core inflation, which excludes volatile food and energy prices, was up 6.2% in April, above economist estimates of a 6% gain.
See Also: Is AMD Stock Leading Investors Into A Trap? What You Need To Know To Avoid Getting Caught
Nvidia is the top designer of discrete graphics processing units that enhance the experience on computing platforms.
According to data from Benzinga Pro, Nvidia has a 52-week high of $346.47 and a 52-week low of $135.43.
