Stocks Rebound as Wall Street Eyes Nvidia Earnings Amid Mixed Market Signals
US Stock Market Rebounds After Initial Geopolitical Tensions
US stock indexes closed higher on Tuesday, recovering from an early sell-off triggered by geopolitical concerns. The Nasdaq and S&P 500 managed to rebound, while the Dow Jones Industrial Average ended the day over 100 points lower.
The initial market downturn was sparked by Russia’s announcement of a new atomic weapon policy following Ukraine’s missile strike. Investors initially sought refuge in defensive assets such as gold and bonds before shifting their focus back to equities.
Nvidia Earnings in Spotlight
Investors are eagerly anticipating Nvidia’s third-quarter earnings report, with Wall Street projecting an impressive 83% year-over-year revenue increase. Key areas of interest include Nvidia’s Blackwell GPU and the demand for AI technology. A positive earnings report could potentially boost tech stocks, while any disappointment might trigger a broader sell-off. Nvidia’s stock rose nearly 5% on Tuesday, closing at $147.01.
US Index Performance
The S&P 500 closed at 5,916.98, up 0.40%, while the Nasdaq composite ended at 18,987.47, up 1.04%. The Dow Jones Industrial Average closed at 43,268.94, down 0.28% (120.66 points).
Other Market Developments
Super Micro Computer shares surged after securing a plan to avoid Nasdaq de-listing. BMO Capital Markets offered an optimistic outlook, predicting the S&P 500 could reach 6,700 next year. In other news, Trump Media’s acquisition of a crypto platform raised eyebrows, while H&R Block and Intuit shares fell following Elon Musk’s DOGE department suggestion of a free tax filing app.
Commodities, Bonds, and Crypto
West Texas Intermediate crude oil rose 0.67% to $69.59 per barrel, while Brent crude slightly decreased by 0.06% to $73.37 per barrel. Gold increased by 0.81% to $2,635.7 per ounce. The 10-year Treasury yield decreased by two basis points to 4.392%. Bitcoin continued its upward trend, rising slightly to $92,050 and briefly surpassing $93,500.
