Shares of Nvidia (NASDAQ: NVDA) gained ground on Wednesday, climbing as much as 5.6%. As of 11:37 a.m. ET, the stock was up 4.5%. The catalyst that sent the artificial intelligence (AI) chipmaker higher was a report that suggested demand remained high for the company's processors in an important market.
The Nasdaq Composite fell more than 1% on Monday, with big technology stocks creating the biggest drag as investors worried about demand for technology supporting artificial intelligence while they waited for results from market heavyweight Nvidia.
STORY: The S&P 500 ended little changed on Wednesday ahead of Nvidia's highly anticipated quarterly earnings, while the Dow dropped less than half a percent and the Nasdaq ticked up modestly.Reporting after the market close,
PCE inflation data, Fed speakers, more earnings will be in focus this week. • Nvidia’s robust performance in the burgeoning AI space and strong guidance position it as a clear buy. • Lowe’s’ struggles with near-term profitability and market headwinds suggest that its stock may be best avoided for now.
Meanwhile, the U.S. dollar strengthened and Treasury yields -- which typically move inversely to prices -- edged up as markets gauged the latest developments around Trump's tariff plans and the outlook for the wider economy (more below). Bitcoin also fell.
Nvidia leads in the chip realm, but there may be a better stock looming in the background.
The stock market remains on edge regarding the impact of Nvidia's (NASDAQ: NVDA) highly anticipated Q4 earnings report on February 26.
Nvidia on Wednesday reported a surge in fourth-quarter profit and sales as demand for its specialised Blackwell chips, which power artificial intelligence (AI) systems, continued to grow, sending the company’s stock higher after hours.
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