Major stock averages closed Friday with gains despite Nvidia's earnings beat failing to impress Wall Street

The Dow Jones Industrial Average, Nasdaq Composite, and S&P 500 all ended Friday's session in positive territory, with the Dow Jones rising 294 points.

Nvidia reported first quarter earnings results that beat estimates, but the results ultimately failed to generate enthusiasm from investors.

Morningstar Wealth CIO for the Americas Philip Straehl assessed investor sentiment around the AI trade in response to Nvidia's latest earnings.