Wall Street Week Ahead — ‘Super Bowl’ Nvidia earnings stand to test searing AI trade
The rally in U.S. stocks faces an important test […] with earnings from chipmaking giant Nvidia NVDA.O, whose blistering run has powered markets throughout 2024.
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The S&P 500.SPX has pared a sharp drop it suffered after U.S. economic worries contributed to a sell-off at the beginning of the month and again stands near a fresh all-time high.
Nvidia, whose chips are widely seen as the gold standard in artificial intelligence, has been at the forefront of that rally, jumping by more than 30% since its recent lows. The stock is up some 150% year-to-date, accounting for around a quarter of the S&P 500’s 17% year-to-date gain.