In a day marked by broad market gains, tech stocks were the star performers, pushing major indexes higher. The Dow Jones Industrial Average rose nearly 200 points, or 0.5%, keeping pace with other major indexes. Among the standout stocks were Microsoft (MSFT) and Nvidia (NVDA), each making significant moves.

Microsoft's stock popped more than 1% on the Dow Jones, making it the strongest performer on the index. The company received a boost as Sam Altman, the ousted co-founder of OpenAI, is set to return as CEO of ChatGPT, a move that was welcomed by Microsoft CEO Satya Nadella. With its stock still in a buy zone, Microsoft's upward momentum continues.

Nvidia, another member of the renowned "Magnificent Seven," faced a slight dip of over 2% despite reporting strong earnings and beating sales expectations. The company expressed concerns about potential restrictions on its China exports impacting its fourth-quarter results. Nonetheless, Nvidia remains in a buy zone and continues to show potential for growth.

Among the other members of the Magnificent Seven, Tesla (TSLA) fared the worst, falling around 3% and trading below its 50-day line. On the positive side, Amazon.com (AMZN) led the way with gains of nearly 2%, followed by Meta Platforms (META) with a gain of 1.3%. Alphabet (GOOGL) and Apple (AAPL) also saw increases, with GOOGL up more than 1% and AAPL rising nearly 1%.

In other market news, famed fund manager Cathie Wood decided to sell some shares of DraftKings (DKNG), a Leaderboard stock. Wood's ARK Invest firm sold over 143,000 shares of DraftKings, potentially taking profits from the stock. Meanwhile, the ARK Innovation ETF also made moves, selling shares of Roku (ROKU) and Exact Sciences (EXAS), while acquiring shares of Teladoc Health (TDOC), Recursion Pharmaceuticals (RXRX), and Zoom Video Communications (ZM).

In terms of breakout attempts, Palo Alto Networks (PANW) and Lam Research (LAM) tested potential entry points, signaling their intention to make significant moves. Additionally, IPO stock Arm (ARM) showcased impressive performance as it formed an IPO base and secured a spot on the Leaderboard Watchlist with a promising potential entry point.

Overall, the tech-heavy Nasdaq emerged as the top performer among major indexes, rising nearly 1%. EBay (EBAY) and Advanced Micro Devices (AMD) stood out with gains of more than 3% each. The S&P 500 also rallied, gaining 0.5%, with Insulet (PODD) showing a nearly 3% increase. However, Autodesk (ADSK) lagged behind, losing about 6% after issuing lackluster fourth-quarter earnings guidance.

As the market continues to show signs of strength, investors are keeping a close eye on the tech sector, especially on Microsoft and Nvidia, both of which have the potential to drive further gains in the coming days.

Disclaimer: This article is for informational purposes only and should not be taken as financial advice. Investing in stocks carries a certain level of risk, and individuals should conduct their own research and consult with a financial advisor before making any investment decisions.