Wall Street Ticks Higher as Nvidia Earnings Loom
On Wednesday, the S&P 500 saw a slight uptick as investors eagerly awaited Nvidia’s much-anticipated earnings report, a critical indicator for the AI-induced market rally. The Nasdaq edged up 0.1%, while the Dow increased by 135 points. Nvidia's shares remained largely stable, despite options indicating a potential shift in market value by $260 billion. Analysts project the chipmaker’s earnings to grow by 49% and revenue by 53% compared to the previous year. However, Nvidia has cautioned about an $8 billion impact due to U.S. trade restrictions with China. In other developments, MongoDB soared by 36% and Okta climbed by 3% after both companies surpassed forecasts, attributing their success to strong AI-related demand, which has heightened expectations ahead of Nvidia’s report. With a market capitalization of $4 trillion and holding the largest position in the S&P 500, Nvidia’s results are viewed as a crucial juncture for the ongoing bullish trend. In a different sector, Cracker Barrel experienced a surge of over 7% after announcing it will abandon its new logo following customer backlash and comments from President Trump.
Download NOW!
No comments:
Post a Comment