Wall Street Closes Mixed Ahead of Nvidia’s Earnings Report
Investors remained cautious about the trade outlook and ahead of Nvidia’s highly anticipated quarterly earnings report, set to be released on Wednesday.
Wall Street’s three major indices closed mixed on Tuesday. The Dow Jones Industrial Average rose 0.37% to 43,621.16 points, while the S&P 500 fell 0.47% to 5,955.25 points. The tech-heavy Nasdaq Composite dropped 1.35% to 19,026.39 points.
Earlier in the day, concerns arose after reports suggested that the Trump administration is considering further restrictions on China’s access to advanced U.S. semiconductor technology.
Shares of Nvidia (-2.80%), the dominant force in AI computing, slid on the news, as well as due to investor caution ahead of its earnings report. The results will be crucial in determining whether the ongoing demand for AI supports Nvidia’s high valuation.
Other semiconductor stocks also declined, with the Philadelphia Semiconductor Index down 2.29%. The so-called “Magnificent Seven” tech giants saw losses, including Tesla (-8.39%), Alphabet (-2.11%), and Meta Platforms (-1.59%).
Sectors and Market Movers
- The worst-performing sector was communications (-1.50%), followed by energy (-1.47%) and technology (-1.37%).
- The consumer staples sector led gains, rising 1.69%.
- Walmart (+4.29%) stood out as the top performer in the Dow Jones.
Investors Brace for a Pivotal Week
Wednesday’s Nvidia earnings report could set the tone for the near-term trajectory of tech stocks. Meanwhile, all eyes are also on Friday’s release of the Federal Reserve’s preferred inflation measure.
The S&P 500 and Nasdaq have now declined for four consecutive sessions, reflecting growing uncertainty in the market.
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