S&P 500, Dow Jones See Uptick Ahead Of NVIDIA Earnings
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Stocks closed markedly lower on Tuesday as fears of a bubble in artificial intelligence technology hammered markets for a fourth consecutive trading day.
Over 320 of the S&P 500’s components ended trading at least 10% below their 52-week highs on Tuesday, while the index was off 4% from its recent high
Major stock indexes ended sharply lower to begin the week, which will see AI darling Nvidia and retail giants report quarterly results, as well as the release of the September jobs report delayed because of the U.
The Dow Jones pulls back after a prolonged rally, reflecting market caution and new concerns for technology valuations.
Investors drove the Dow to back-to-back record gains shrugging off concerns about an AI bubble and the lack of economic data tied to the government shutdown.
Nvidia reported record revenue for the third quarter of $57.0 billion, up 22% from the previous quarter and up 62% from a year ago. Following the release of the AI chipmaker's earnings reports, US stock index futures experienced a general increase in trading on Wednesday,
US indices attempt to recover on Wednesday as major benchmarks test key technical levels. The Nasdaq 100, Dow Jones 30, and S&P 500 all face pivotal EMA and trendline areas, with Nvidia’s earnings likely to influence the broader market direction.
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Wall Street closed higher today, with major indices like the S&P 500, Dow Jones, and NASDAQ all experiencing gains. This positive sentiment comes as key indices see upward movement. Nvidia's stock surged ahead of its profit report,
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Stock Market Today: Dow Sinks 500 Points As Tech Pressure Persists; Nvidia Falls (Live Coverage)
Bitcoin sank below the $90,000 price level in morning trade and fell to a level not seen since April, before reversing 1.7% higher to around $93,300. The cryptocurrency has given back all of its gains from this year and is around 26% below its record high of $126,000 reached in October.