US Stock Market Today: NASDAQ and S&P 500 Climb Ahead of NVIDIA Earnings, Oil Prices Pull Back

The NASDAQ Composite rose 0.43% to 25,981.68, outperforming the Dow Jones Industrial Average which gained 0.07% to 49,396.51 and the S&P 500, which climbed 0.25% to 7,373.20. 

Technology shares drove the market higher, with NVIDIA (NVDA.O) up 0.7% ahead of its earnings release. Marvell Technology advanced 7.8%, Intel rose 6.3%, and Micron Technology added 3.6%. The Philadelphia Semiconductor Index increased 2.9%, reflecting sector-wide strength.

James McCann, Senior Economist at Edward Jones, said, “The expectation is that NVIDIA’s earnings will be strong. It’s the extent to which they are stronger than what is currently baked into markets will be important.” He added, “The bar continues to rise for some of these companies. Can it continue to beat that bar? That’s going to be a critical aspect for investors.”