Nvidia's Earnings Report: A Litmus Test for the Stock Market Rally
The U.S. stock market rally faces a critical test with Nvidia's upcoming earnings report. Nvidia's performance has been pivotal in the market's surge in 2024. Investors anticipate this report to gauge whether corporate investments in AI will continue amid economic concerns. The S&P 500's historical September performance adds further uncertainty.
The rally in U.S. stocks faces a pivotal test next week as chipmaking powerhouse Nvidia reports earnings. Nvidia's remarkable performance has been a key driver of market gains throughout 2024.
The S&P 500, which has nearly recouped its August losses, is approaching record highs once again. Nvidia's stock has soared over 30% from its recent lows, contributing substantially to the S&P 500's year-to-date growth.
Investors are keenly watching Nvidia's Aug. 28 earnings report and its forward guidance, amid concerns about economic slowdown and volatile market conditions typically seen in September. Traders are pricing in a notable 10.3% swing in Nvidia's stock post-earnings, indicating high expectations and potential market impact.
(With inputs from agencies.)
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