What Nvidia's Stock Move Today Means for Tomorrow's Market
Nvidia stock is bouncing back from its latest slide, but the move higher today could reshape how the market reacts to tonight’s earnings report.
With Nvidia up 4.7% today, the stock is leading a broader market rally. The S&P 500 is up 0.8%. The Nasdaq Composite is up 1.2%. The Dow is up 167 points, or 0.4%.
Nvidia, given its leading role as the designer of chips that power AI startups, helps set the tone for the AI trade. Sentiment among AI-linked stocks has been down of late, as Wall Street wonders if the exuberance for shares of chip makers and utilities that could benefit from AI data center investments is starting to run out of steam.