Stocks close higher, snapping losing streak as Nvidia rebounds ahead of earnings report
The S&P 500 rose on Wednesday following a four-day slide centered around technology as investors looked ahead to Nvidia’s upcoming earnings.
The broad market index gained 0.38% to close at 6,642.16, while the Nasdaq Composite advanced 0.59% to settle at 22,564.23. The Dow Jones Industrial Average climbed 47 points, or 0.1%, to finish at 46138.7.
Alphabet was among the winners of the day, rising about 3% and hitting a new all-time high. Shares were rallying around optimism about its new generation of AI, Gemini 3, which it rolled out Tuesday.
Fellow “Magnificent Seven” member Nvidia saw a boost of roughly 3% ahead of its third-quarter results scheduled for after the bell. Analysts largely expect that the company — the largest in the broad-market index — will meaningfully beat Wall Street’s expectations and forecast strong sales growth driven by demand for its AI chips and other infrastructure.
The AI chip darling has a high bar to beat. Investors have taken profits from their tech holdings in recent days, reflecting heightened concerns that the AI boom has run up the valuations of Nvidia and other hyperscalers at an unsustainable pace.
Source : Cnbc.com
