Stocks fell on Wednesday, as investors awaited a key earnings report from tech giant Nvidia and digested disappointing results from Targe
The Dow Jones Industrial Average rose 40 points, or 0.1%. The S&P 500 fell 0.4%, and the Nasdaq Composite dropped 0.5%.
"Like most investors, we will be watching NVIDIA's earnings report today for clues on how AI spending is coming in," Chris Senyek of Wolfe Research wrote in a Wednesday note. "We see negative news flow or disappointing spending trends as one of the key risks that could delay or even reverse the decline into the end of the year."
All eyes are on the AI darling, which fell 1% during morning trading. The results could have greater significance than some major economic reports, given the chipmaker's $3.6 trillion market capitalization, and could set the tone for the rest of the week. Investors will be looking for details on demand for Blackwell's AI chips, which CEO Jensen Huang called "insane" last month.
Investors have been looking to the report as a potential catalyst to accelerate the market's recovery for the rest of the year, following the fading of a major post-election rally that pushed major benchmarks to new highs. Stocks struggled last week as Federal Reserve Chairman Jerome Powell signaled that the central bank was in no hurry to cut interest rates. Rising geopolitical tensions between Russia and Ukraine also worried markets on Tuesday.
In other news, retailer Target plunged 20% after posting its biggest revenue loss in two years and cutting its full-year guidance due to weak discretionary demand and cost pressures. Citi downgraded the retailer to neutral, citing downside risks to the stock. The disappointment weighed on other major retail stocks, with the SPDR S&P Retail ETF last down 1.5%.
Costco and Walmart fell slightly, while discount retailers Dollar Tree, Dollar General and Five Below each fell more than 3%. Home Depot fell 1%. Comcast shares edged higher as the media company announced plans to spin off its cable networks, including MSNBC and CNBC. The separation is expected to take about a year. Comcast first hinted at a potential split during its earnings call in October.
Investors will also be listening for comments from Federal Reserve Chairs Lisa Cook and Michelle Bowman, and Boston Fed President Susan Collins.
Source: CNBC
The STOXX 50 gained 0.4% and the STOXX 600 rose 0.3% on Friday, as investors closely monitored corporate earnings and news, while staying on edge for any signs of progress in trade negotiations betwee...
Australian equities notched a record high as Asia-Pacific markets tracked Wall Street gains on the back of strong U.S. economic data reports and a slew of better-than-expected corporate earnings. Aus...
US stocks advanced on Thursday, supported by upbeat earnings and solid economic data as markets brushed aside lingering concerns over President Trump's criticism of the Fed and renewed tariff threats....
S&P 500 and Nasdaq 100 futures edged up 0.1% and 0.2%, respectively, on Thursday morning (July 17), while the Dow Jones Industrial Average remained flat. What caused this? Investors were digesting...
The STOXX 50 rose 0.9% and the STOXX 600 gained 0.6% on Thursday, marking their first advances in six and five consecutive sessions, respectively, as investor attention shifted to corporate earnings. ...
Gold prices rose to a new daily high during the European session on Friday (July 18th), continuing their rebound from a low hit more than a week earlier. This increase was driven by a weakening US dollar following dovish remarks from Fed Governor...
The Hang Seng Index surged 327 points, or 1.3%, to close at 24,825 on Friday (July 18th), reversing two days of declines as all sectors rallied. The index hit a four-month high and rose 2.8% for the week, marking its second consecutive weekly...
The STOXX 50 gained 0.4% and the STOXX 600 rose 0.3% on Friday, as investors closely monitored corporate earnings and news, while staying on edge for any signs of progress in trade negotiations between the US and the European Union. Reckitt...
U.S. consumer prices increased by the most in five months in June amid higher costs for some goods, suggesting tariffs were starting to have an...
European stocks erased early gains and closed mostly lower on Tuesday as markets continued to assess how potential tariffs from the US may hurt...
The U.S. central bank will probably need to leave interest rates where they are for a while longer to ensure inflation stays low in the face of...
President Donald Trump's renewed calls for Federal Reserve Chair Jerome Powell's resignation have prompted investors to protect portfolios against...