US stocks were relatively close to the flatline on Wednesday, extending the tight range of trading this week to remain close to record highs as markets positioned for the release of Nvidia's results after today's closing bell, a bellwether for global artificial intelligence demand and confidence.
The three main indices were close to the flatline. Nvidia was flat as it is expected to report a 37% growth in earnings in its second financial quarter, but markets will also scrutinize CEO Huang's rhetoric on the outlook of AI revenues after markets showed concerns of frothiness in tech stocks, in addition to insights on the impact of trade restrictions between US and China.
Meanwhile, MongoDB surged 30% and Okta gained 4% after both beat Wall Street expectations, driven by strong demand from firms developing AI platforms. Cracker Barrel also jumped more than 7% after announcing it will scrap its new logo following backlash from customers and President Donald Trump.
Source : Tradinng Economics
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