A solid quarterly report from Nvidia failed to ignite a broad rally in the stock market today and instead sparked a broad decline in late-afternoon movement on Wall Street. Nvidia sank 6% in heavy trading and was below the 200-day moving average in late trading.
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.
The S&P 500 and the Nasdaq gave up early gains and declined in choppy trading today, as investors awaited results from chip giant Nvidia for clues on the future of demand for artificial intelligence technology.
Investors with significant gains in Nvidia may now want look at these tech stocks with dependable dividends and solid growth prospects.
The tech-heavy Nasdaq led Wall Street’s main indexes higher on Wednesday as chip stocks rebounded ahead of Nvidia’s results that are crucial to illuminating future demand for AI. At 09:58 a.m. ET, the Dow Jones Industrial Average rose 117.