Analysts upgraded their outlooks for Nvidia stock on Thursday after a big earnings report from the AI chip maker.

Jarring swings keep rocking Wall Street, and U.S. stocks erased a big morning gain to drop on Thursday as the market remains skittish following weeks of doubts and erratic moves.

Jay Goldberg, the only sell-side analyst with a bearish rating on Nvidia's stock, saw "a few blemishes" despite Nvidia's "good quarter and solid guidance." "For starters, the company sounded fairly cautious about gross margins next year,

The losses spread to Asia, where Japan’s Nikkei 225 index fell 1.8 per cent and South Korea’s Kospi slid 3.4 per cent on Friday morning. Hong Kong’s Hang Seng benchmark was down 1.8 per cent, and mainland China’s CSI 300 declined 1.4 per cent.

Nvidia reported quarterly results that handily topped Wall Street expectations, sending the stock sharply higher in after-hours trading.

Wall Street's main indexes were set for a higher open on Thursday as technology stocks got a boost after Nvidia's stellar results quelled some concerns around an AI bubble, while investors assessed the September jobs report.

The U.S. stock market swung through another unsettled day of trading, ahead of a couple of crucial tests for Wall Street.