Benzinga | Oct 14, 2021 12:43PM EDT

Why Nvidia Shares Are Rising

Shares of companies in the broader technology space, including NVIDIA Corporation (NASDAQ:NVDA) are trading higher amid a drop in yields, which has lifted growth stock valuations. Stocks across sectors have gained as investors weigh US unemployment data and recent corporate earnings.

The 10-year Treasury yield hit an intraday low of 1.507% Thursday morning before rising to around the 1.512% level. The 10-year note was volatile in September after the Federal Reserve spoke on winding down its ongoing asset purchasing program.

Nvidia is the leading designer of graphics processing units that enhance the experience on computing platforms. The firm's chips are used in a variety of end markets, including high-end PCs for gaming, data centers and automotive infotainment systems.

Nvidia has a 52-week high of $230.43 and a 52-week low of $115.66.