Stock Market Live November 19: S&P 500 (VOO) Opens Higher as Investors Await Nvidia Earnings
This article will be updated throughout the day, so check back often for more daily updates.
The S&P 500 logged its fourth-in-a-row losing day Tuesday — but it seems the losing streak is over. On Wednesday the Vanguard S&P 500 ETF (NYSEMKT: VOO) opened modestly higher, and it continues to gain, currently up 0.2%.
A change in sentiment on AI stocks may be helping. Nvidia (Nasdaq: NVDA) is expected to report earnings after close of trading today, and options trading activity shows “calls” — bets that the stock will outperform — outnumbering “puts” — bets that the stock will fall, by a 1.8-to-1 ratio this morning. Moreover, Nvidia’s own slide seems to have ceased, and the stock is up 2% this morning.
Meanwhile on Wall Street, analyst Chris Senyek of Wolfe Research was quoted telling CNBC: “We continue to believe that concerns over an AI bubble bursting are overblown… at least for now.”
Quick Read
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After four straight days of losses, the S&P 500 opened higher on Wednesday morning.
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Nvidia is scheduled to report earnings this evening.
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Earnings
In earnings news, S&P 500 component company Williams-Sonoma (NYSE: WSM) beat earnings by nine cents this morning, reporting a $1.96 per share Q3 profit on sales of $1.9 billion, also ahead of forecasts. The company stuck by its 2025 sales guidance, predicting sales will rise 0.5% to 3.5% this year, with same-store sales up 2% to +5%, but Williams-Sonoma stock is still down 2% this morning.
Home improvement retailer Lowe’s (NYSE: LOW) is another S&P 500 component company reporting today, and the company is making investors happy with a report of $3.06 per share earned in Q3 — also nine cents ahead of forecasts. Sales of $20.8 billion missed forecasts by only about $40 million, and investors appear willing to forgive the miss seeing as Lowe’s is forecasting a sales beat by the end of this year: $86 billion instead of Wall Street’s expected $85.6 billion.
Lowe’s stock is up more than 3% in response.
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