US stocks waver as Nvidia looms
S&P 500 ends ~flat; Nasdaq dips; Dow modestly green
Nvidia results expected shortly
Dollar, gold rally; bitcoin up >2%; crude declines
U.S. 10-Year Treasury yield rises to ~4.42%
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US STOCKS WAVER AS NVIDIA LOOMS
Wall Street stocks ended mixed on Wednesday, with the major indexes paring losses in the last half hour of trading.
The minutes and seconds are ticking down to Nvidia's NVDA.O quarterly report, which analysts are expecting to show an 85.7% year-over-year surge in quarterly adjusted EPS and annual revenue growth of 83.0%, a very high bar for the darling of the AI boom.
Investors will parse the chipmaker's results and forecasts for clues regarding the path forward for the nascent technology, which has driven much of the stock market's gains for about two years now.
At any rate, Nvidia options suggest an 8.5% share price swing on Thursday, according to options analytics service ORATS, which is comparable to the 8.3% average stock move the day after results over the last 12 quarters.
Consumer discretionary stocks .SPLRCD and chips .SOX underperformed the broader market.
Risk appetite was soured partly due to Russia-Ukraine tensions, which escalated after Ukraine fired a salvo of U.K.-made missiles into Russia a day after it did the same with U.S.-made weapons.
Sentiment was further dampened by Target's TGT.N disappointing holiday quarter sales and profit estimates, which sent the discount retailer's shares down 21.4%.
Here's your closing snapshot:
(Stephen Culp, Saqib Ahmed)
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FOR WEDNESDAY'S EARLIER LIVE MARKETS POSTS:
MAG 7 TO OUTPERFORM IN 2025 "BUT BY SMALLER MAGNITUDE" - KOSTIN - CLICK HERE
MICROSTRATEGY TOUCHES $100 BLN IN MARKET CAP AS INVESTORS LOOK PAST ITS ACHILLES' HEEL - CLICK HERE
WFII UPS YEAR-END 2025 S&P 500 TARGET ON STRONGER GROWTH EXPECTATION - CLICK HERE
THE HOUSING PLOT THICKENS: MORTGAGE RATES RISE, YET APPLICATIONS INCREASE - CLICK HERE
GOLDMAN SACHS EXPECTS CONTINUED MONETARY POLICY EASING ACROSS THE WORLD NEXT YEAR - CLICK HERE
MARKET AWAITS NVIDIA, BUT RIGHT NOW, IT'S GOT TARGET ON ITS BACK - CLICK HERE
WILL NVIDIA HELP PULL UP THE SOX? - CLICK HERE
UK WATCH: HIGHER INFLATION DENTS BOE CUT HOPES - CLICK HERE
RISING BOND YIELDS NO PROBLEM FOR EQUITIES - UBS - CLICK HERE
TECH STOCKS LIFT STOXX AS REAL ESTATE DRAGS - CLICK HERE
BRITISH INFLATION SET TO DOMINATE BEFORE NVIDIA - CLICK HERE
FTSE FUTURES FALL BEHIND AFTER INFLATION RISES CLICK HERE
Closing snapshot https://reut.rs/3OjilXj
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