logo
Share

Homepage

News

Stock market today: Indexes inch up as traders get ready for Nvidia earnings

Stock market today: Indexes inch up as traders get ready for Nvidia earnings

28 tháng 8 2024・ 10:58

US stocks hovered near all-time highs on Tuesday, with investors largely holding off ahead of Nvidia's earnings report.

665e20d21cd3b1779042d1e8.webp

Investors are gearing up for the chipmaker to publish its second-quarter performance on Wednesday, and Wall Street is bracing for potential market swings in either direction.

Given Nvidia's central role in supporting the buildout of artificial intelligence, the firm's release is seen as a metric for how well the AI rally is doing. If Nvidia discloses sales or demand weakness, investors may feel pressured to unwind their AI tech bets.

However, most analysts expect the semiconductor firm to beat consensus forecasts. While Wall Street remains largely optimistic, some banks did warn about near-term volatility caused by chip delay issues.

US consumer confidence hit a six-month high in August, according to Conference Board data released Tuesday. Alongside it, inflation expectations fell to a post-pandemic low, although consumer perceptions about the labor market deteriorated.

"We see weakening perception about the job market, likely putting a crimp on consumer spending in the coming months," LPL Financial chief economist Jeffrey Roach said. "Investors recently heard from companies that consumers are becoming more selective, looking for deals and discounts."

Fresh unemployment data will come later this week, with jobless claims scheduled for release Thursday. New PCE Index data will follow on Friday.

Both data points will be useful in determining the extent of interest rates cuts in September, when the Federal Reserve is expected to start easing policy.

logo
InfoFinance do not provide investment advice. Please note that by investing in and/or trading financial instruments, commodities and any other assets, you are taking a high degree of risk and you can lose all your deposited money. You should engage in any such activity only if you are fully aware of the relevant risks
Our partners
Hình ảnhHình ảnhHình ảnh

Social Media:

icon
icon
icon
icon
icon

CONTACT US

Support/consult to traders:

CS@infofx.vn

Hotline/Zalo/Telegram:

0904 096 829 / 093 1085 659