Nvidia

US Equity Markets Close Higher as Oil Prices Fall, Tech Gains Ahead of Nvidia Results

US equity indexes ended higher on Wednesday after crude oil prices fell and the tech sector rose ahead of Nvidia's (NVDA) results.* President Donald Trump said negotiations with Iran are in the final stages, though he warned of further attacks unless Tehran agrees to a deal, Reuters reported.* Nvidia's (NVDA) fiscal Q1 sales are expected to outperform market projections, with potential for "enhanced" cash returns likely to be among the key areas of focus, BofA Securities said.* A majority of FOMC participants appear to be leaning away from rate cuts for now and were open to the possibility of rate increases, minutes of the April 28-29 meeting released Wednesday showed.* July West Texas Intermediate crude oil fell $5.76 to settle at $98.39 per barrel, while July Brent crude, the global benchmark, was last seen down $6.30 at $104.98.* United Airlines (UAL) shares rose 10%, the biggest gain on the S&P 500, a day after the company forecast double-digit increases in demand this summer, with more than 53 million passengers from June to August, up 3 million from a year earlier.* Hasbro (HAS) shares fell 8.8%, the steepest decline on the S&P, after the company reported a Q1 operating loss for the consumer products division amid flat sales.

US Equity Indexes Jump Ahead of Nvidia's Quarterly Results

US equity indexes jumped ahead of Nvidia's (NVDA) earnings and as government bond yields sank amid a slide in crude oil futures.The Nasdaq Composite jumped 1.4% to 26,221.2, with the S&P 500 up 1% to 7,426.5 and the Dow Jones Industrial Average higher by 1.3% to 50,023.7 ahead of Wednesday's close.Nvidia's (NVDA) fiscal Q1 sales are expected to outperform market projections, with potential for "enhanced" cash returns likely to be among the key areas of focus, BofA Securities said in a note. The brokerage maintained its buy rating on the Nvidia stock, with a $320 price objective, citing its "dominance in the fastest growing tech market and its compelling valuation."Iran negotiations are in the final stages, Reuters cited President Donald Trump as saying on Wednesday. But the US president warned of further attacks unless Tehran agrees to a deal.West Texas Intermediate crude oil futures dropped 5.7% to $98.19, while Brent crude futures slumped 5.7% to $104.91.US Treasury yields fell, with the 30-year down seven basis points to 5.11%, retreating from its highest since 2007. The 10-year dropped 9.9 basis points to 4.57%, also declining from its strongest level in more than a year.A majority of FOMC participants appear to be leaning away from rate cuts for now and were open to the possibility of rate increases, minutes of the April 28-29 meeting released Wednesday showed.

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.1% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 4.7%.The Philadelphia Semiconductor index popped 4.1%.In corporate news, Microsoft-backed OpenAI (MSFT) is aiming for an initial public offering as soon as September that will value the company at more than $1 trillion, the Financial Times reported. Microsoft shares rose 1%.Nvidia's (NVDA) fiscal Q1 sales are expected to outperform market projections, with potential for "enhanced" cash returns likely to be among the key areas of focus, BofA Securities said in a note. The brokerage maintained its buy rating on the Nvidia stock, with a $320 price objective, citing its "dominance in the fastest growing tech market and its compelling valuation." Nvidia shares rose 1.3%.Meta Platforms (META) CEO Mark Zuckerberg told employees the company does not expect further company-wide layoffs this year, Reuters reported, citing an internal memo. Meta on Wednesday cut 10% of its global workforce and reassigned 7,000 employees to AI-related initiatives as part of a broad restructuring, the report said. Meta shares added 0.2%.Intuit (INTU) is laying off about 17% of its global workforce, or roughly 3,000 employees, as part of a restructuring aimed at simplifying operations and sharpening focus on key priorities, including AI initiatives, Reuters reported. Intuit shares were down 3.6%.

Sector Update: Tech Stocks Gain Wednesday Afternoon

Tech stocks were higher Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.8% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 4%.The Philadelphia Semiconductor index popped 3.6%.In corporate news, Nvidia's (NVDA) fiscal Q1 sales are expected to outperform market projections, with potential for "enhanced" cash returns likely to be among the key areas of focus, BofA Securities said in a note. The brokerage maintained its buy rating on the Nvidia stock, with a $320 price objective, citing its "dominance in the fastest growing tech market and its compelling valuation." Nvidia shares rose 1.8%.Microsoft-backed (MSFT) OpenAI has been working with bankers in preparation of filing for an initial public offering in the coming days or weeks, The Wall Street Journal reported. Microsoft shares added 0.9%.Intuit (INTU) is laying off about 17% of its global workforce, or roughly 3,000 employees, as part of a restructuring aimed at simplifying operations and sharpening focus on key priorities, including AI initiatives, Reuters reported. Intuit shares were down 3.5%.

US Equity Indexes Rise as Investors Await Nvidia's Earnings While Iran Peace Talks Enter Final Stages

US equity indexes rose ahead of Nvidia's (NVDA) earnings and April minutes from the Federal Reserve's policy meeting, and as Iran's negotiations with a trio of Gulf nations entered the final stages.The Nasdaq Composite rose 1.1% to 26,165.1, with the S&P 500 up 0.8% to 7,412.9 and the Dow Jones Industrial Average higher by 1% to 49,854.6 in midday trading on Wednesday.Consumer discretionary and technology topped the sector charts. Energy was the worst performer.Nvidia's (NVDA) fiscal Q1 sales are expected to outperform market projections, with potential for "enhanced" cash returns likely to be among the key areas of focus, BofA Securities said in a note. The brokerage maintained its buy rating on the Nvidia stock, with a $320 price objective, citing its "dominance in the fastest growing tech market and its compelling valuation."Chip stocks steadied ahead of Nvidia's earnings, which investors view as a "crucial test of AI demand amid concerns about elevated Treasury yields," according to a D.A. Davidson note.Meanwhile, Iran negotiations are in the final stages, Reuters cited US President Donald Trump as saying on Wednesday. But Trump warned of further attacks unless Tehran agrees to a deal."We're in the final stages of Iran. We'll see what happens," Trump was cited as telling reporters. "Either have a deal, or we're going to do some things that are a little bit nasty, but hopefully that won't happen.""If aggression against Iran is repeated, the promised regional war will extend beyond the region this time," Reuters cited the Revolutionary Guards as saying in a statement.West Texas Intermediate crude oil futures slid 0.8% to $107.77, while Brent crude futures slumped 5.7% to $104.92.US Treasury yields fell, with the 30-year down 6.5 basis points to 5.12%, retreating from its highest since 2007. The 10-year dropped 8.7 basis points to 4.58%, also declining from its strongest level in more than a year.In precious metals, gold futures rose 0.6% to $4,536.8, and silver futures climbed 1.5% to $75.30.In US economic news, the Federal Reserve is scheduled to post minutes from its April policy meeting at 2 pm ET, in which policymakers had voted to keep the federal funds rate unchanged at 3.5% to 3.75%.However, Dallas Fed president Lorie Logan, Minneapolis Fed president Neel Kashkari, and Cleveland Fed president Beth Hammack were the three members of the Federal Open Market Committee who explicitly dissented against language that left the door open to a possible easing bias, according to a Scotiabank note. Boston Fed president Susan Collins later revealed that she was a non-voting supporter of the dissenters."That makes almost one-quarter (4) of the 17 FOMC members and one-quarter (3) of the voting FOMC members who officially opposed any hint at easing" at the last meeting, Derek Holt, head of capital markets economics at Scotiabank, said in an earlier note. "Will others be revealed? Watch the language that cites frequency of citation for an indication (one, a couple, a few, some, several, many, most, etc.)."

Sector Update: Tech

Tech stocks were higher Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 3.7%.The Philadelphia Semiconductor index climbed 3.4%.In corporate news, Nvidia's (NVDA) fiscal Q1 sales are expected to outperform market projections, with potential for "enhanced" cash returns likely to be among the key areas of focus, BofA Securities said in a note. The brokerage maintained its buy rating on the Nvidia stock, with a $320 price objective, citing its "dominance in the fastest growing tech market and its compelling valuation." Nvidia shares rose 1.8%.

Technology Pushes US Equity Indexes Higher Ahead of Nvidia's Results

US equity indexes rose ahead of Nvidia's (NVDA) quarterly earnings and minutes of the Federal Reserve's last policy meeting, while the Iran standoff continued.The Nasdaq Composite rose 1.3% to 26,209.7, with the S&P 500 up 0.9% to 7,420.9 and the Dow Jones Industrial Average higher by 1% to 49,860.5 in midday trading on Wednesday.Consumer discretionary and technology topped the sector charts.Nvidia's (NVDA) fiscal Q1 sales are expected to outperform market projections, with potential for "enhanced" cash returns likely to be among the key areas of focus, BofA Securities said in a note. The brokerage maintained its buy rating on the Nvidia stock, with a $320 price objective, citing its "dominance in the fastest growing tech market and its compelling valuation."Chip stocks steadied ahead of Nvidia's earnings, which investors view as a "crucial test of AI demand amid concerns about elevated Treasury yields," according to a D.A. Davidson note.US Treasury yields fell after midday, with the 30-year down 4.8 basis points to 5.13%, retreating from its highest since 2007. The 10-year dropped 6.6 basis points to 4.6%, also declining from its strongest level in more than a year.West Texas Intermediate crude oil futures slide 0.8% to $107.77, while Brent crude futures slumped 5.2% to $105.45 as the US awaits the results of negotiations between a trio of Gulf nations and Iran to find a framework for a peace deal.

Market Chatter: Nvidia's Gaming Chip Banned During Trump's China Visit

Nvidia's (NVDA) gaming chip was banned by Beijing while Chief Executive Jensen Huang was visiting China as part of the business delegation with President Donald Trump last week, the Financial Times reported Wednesday, citing a document and people with knowledge of the matter.The chip was added to a list of banned goods at China's customs checkpoints last Friday, highlighting Beijing's stance to block Nvidia chips, particularly the degraded versions designed to comply with US export controls, according to the report.Nvidia did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $224.77, Change: $+4.15, Percent Change: +1.88%

Top Midday Stories: Target Beats Q1 Estimates, Ups Sales Guidance, But Shares Fall; Intuit Laying Off 17% of Global Workforce

All three major US stock indexes were up in late-morning trading Wednesday, a day after a jump in long-dated US Treasury yields caused equities to retreat, and ahead of Nvidia's (NVDA) highly anticipated earnings results in the afternoon.In company news, Target (TGT) reported fiscal Q1 adjusted earnings of $1.71 per diluted share, up from $1.30 a year earlier and above the FactSet consensus analyst estimate of $1.47. Fiscal Q1 net sales were $25.44 billion, up from $23.85 billion a year ago and above the FactSet consensus of $24.66 billion. For fiscal 2026, the company said it expects adjusted EPS to be near the high end of its prior guidance range of $7.50 to $8.50, compared to the FactSet consensus of $8.12. Full-year net sales are projected to grow around 4% from 2025, up from its prior guidance of 2% growth. Analysts expect net sales of $107.15 billion. Target shares were down 4.4% around midday.Intuit (INTU) is laying off about 17% of its global workforce, or roughly 3,000 workers, Reuters reported, citing an internal memo. The company also plans to close its Reno and woodland Hills offices, the report said. Intuit shares were down 3.5%.TJX (TJX) reported fiscal Q1 earnings Wednesday of $1.19 per diluted share, up from $0.92 a year earlier and above the FactSet consensus of $1.02. Fiscal Q1 net sales were $14.32 billion, up from $13.11 billion a year earlier and above the FactSet consensus of $14.02 billion. For fiscal Q2, the firm said it expects EPS of $1.15 to $1.17, compared with the consensus of $1.17. TJX expects comparable sales to grow 2% to 3% in fiscal Q2. For fiscal 2027, the company expects EPS of $5.08 to $5.15, up from its prior guidance of $4.93 to $5.02, and compared with the consensus of $5.13. Full-year comparable sales are expected to grow 3% to 4%, up from 2% to 3% previously. TJX shares were up 6%.Lowe's (LOW) reported fiscal Q1 adjusted earnings of $3.03 per diluted share, up 3.8% from a year earlier and above the FactSet consensus of $2.97. Fiscal Q1 net sales were $23.08 billion, up from $20.93 billion a year ago and above the consensus of $22.98 billion. Shares were down 0.4%.Analog Devices (ADI) reported fiscal Q2 adjusted earnings of $3.09 per diluted share, up from $1.85 a year earlier and above the FactSet consensus of $2.88. Fiscal Q2 revenue was $3.62 billion, up from $2.64 billion a year ago and above the FactSet consensus of $3.51 billion. For fiscal Q3, the firm expects adjusted EPS of $3.30, plus or minus $0.15, above the consensus of $2.99. Fiscal Q3 revenue is expected to be $3.9 billion, plus or minus $100 million, above the FactSet consensus of $3.61 billion. Analog Devices shares were down 5.8%.Price: $225.58, Change: $+4.97, Percent Change: +2.25%

Exchange-Traded Funds, Equity Futures Advance Pre-Bell Wednesday Ahead of Nvidia Earnings Report

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.7% higher in Wednesday's premarket activity, ahead of the release of Nvidia's (NVDA) latest financial results.US stock futures were also higher, with S&P 500 Index futures up 0.3%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures gaining 0.6% before the start of regular trading.Earlier Wednesday, the Mortgage Bankers Association reported that mortgage applications declined in the week ended May 15 due to a seven-week high in mortgage rates.The weekly petroleum stocks data will be released at 10:30 am ET.The minutes of the April 28-29 Federal Open Market Committee meeting will be released at 2 pm ET.In premarket activity, bitcoin was up by 0.8%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.8% higher, Ether ETF (EETH) advanced 0.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.03%, the Vanguard Health Care Index Fund (VHT) was up 0.3%, while the iShares US Healthcare ETF (IYH) gained 0.3%. The iShares Biotechnology ETF (IBB) was 0.3% higher.ImmunityBio's (IBRX) stock was up more than 8% premarket after the company said its supplemental biologics license application for Anktiva in combination with Bacillus Calmette-Guerin in patients with bladder cancer with papillary disease has been accepted for review by the US Food and Drug Administration.Winners and Losers:EnergyThe iShares US Energy ETF (IYE) was down 0.8%, while the State Street Energy Select Sector SPDR ETF (XLE) retreated by 0.5%.Dorian LPG (LPG) stock was up more than 5% before Wednesday's opening bell after the company reported higher fiscal Q4 adjusted earnings and revenue.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.6%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.7% lower.CorVel (CRVL) shares were up more than 1% pre-bell after the company reported higher fiscal Q4 earnings and revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.5%, while the Vanguard Industrials Index Fund (VIS) was down 0.1%, and the iShares US Industrials ETF (IYJ) retreated 0.2%.Southwest Airlines (LUV) stock was up more than 1% before the opening bell after Business Standard reported that the company opened a Global Innovation Centre in Hyderabad through its wholly owned subsidiary, Southwest Airlines India, as the U.S. carrier expands its global technology, engineering, and business operations capabilities.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced by 0.9%, and the iShares US Technology ETF (IYW) was 1% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.6%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 1.8%, while the iShares Semiconductor ETF (SOXX) rose by 2%.Nvidia shares were up more than 1% in premarket activity ahead of the release of its quarterly financial results. The company will open its first research center in Singapore, focused on embodied AI and improving AI infrastructure efficiency, according to multiple media reports.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.2% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was down 0.9%. The iShares US Consumer Staples ETF (IYK) retreated 0.01%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.5%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) rose by 0.5%.Tesla (TSLA) shares were up more than 1% pre-bell. Recruitment notices on the electric vehicle maker's website showed it is hiring people for driver-assistance roles in China.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.8% to $107.77 per barrel on the New York Mercantile Exchange. Natural gas was down 0.2% at $3.11 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased by 2.2%, while the United States Natural Gas Fund (UNG) was 0.1% lower.Gold futures for May retreated by 0.3% to $4,498.10 an ounce on the Comex. Silver futures rose 1.2% to $76.08 an ounce. SPDR Gold Shares (GLD) was up by 0.4%, and the iShares Silver Trust (SLV) rose by 2.3%.

Sector Update: Tech Stocks Rise Premarket Wednesday

Technology stocks were rising premarket Wednesday, with the State Street Technology Select Sector SPDR Fund (XLK) 1%% higher and the State Street SPDR S&P Semiconductor ETF (XSD) up 1.4%.Amkor Technology (AMKR) shares were up more than 3% after the company said it has acquired an additional 67-acre parcel next to its Arizona semiconductor campus as it expands advanced packaging and testing operations in the US.Nvidia (NVDA) will open its first research center in Singapore focused on embodied AI and improving AI infrastructure efficiency, multiple media reports said. Nvidia stock was up more than 1% pre-bell.GDS (GDS) shares were up more than 2% after the company posted higher Q1 income and net revenue.

US Equity Futures Edge Higher Pre-Bell Amid Chip Sector Gains as Traders Await Nvidia Earnings

US equity futures were edging higher pre-bell Wednesday as traders anticipated Nvidia's (NVDA) fiscal Q1 financial results, expected after the closing bell, amid share gains in the broader chip sector.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.7% higher.Investors look forward to Nvidia's earnings for key information on trends in artificial intelligence and the demand for chips. The company's stock was up 1.6% in premarket activity.Traders digested the latest round of earnings, with Analog Devices (ADI) posting higher fiscal Q2 adjusted earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 3.9% at $107.67 per barrel and US West Texas Intermediate crude 3.3% lower at $100.96 per barrel.The Atlanta Fed Business Inflation Expectations survey for May is scheduled for release at 10 am ET. The Federal Reserve will release the minutes of its most recent policy meeting at 2 pm.Fed Governor Michael Barr is slated to speak on Wednesday.In other world markets, Japan's Nikkei closed 1.2% lower, Hong Kong's Hang Seng ended 0.6% lower, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 was up 0.3%, and Germany's DAX index was 0.5% higher in Europe's early afternoon session.In equities, gains of major chip firms AMD (AMD), Micron Technology (MU), and Intel (INTC) helped propel the wider semiconductor sector. AMD stock was up 2.4%, Micron shares rose 3.8%, and Intel stock was up 4.8%.On the losing side, Lowe's (LOW) stock was down 1.2% despite reporting higher fiscal Q1 adjusted earnings and sales. Energy firms Exxon Mobil (XOM), BP (BP), and Equinor (EQNR) saw their stocks drop as oil prices declined. Exxon Mobil shares were down 0.9%, BP stock fell 1.1%, and Equinor shares were down 1.6%.

US Equity Futures Rise Pre-Bell Amid Chip Sector Gains as Traders Await Nvidia Earnings

US equity futures were higher pre-bell Wednesday as traders anticipated Nvidia's (NVDA) fiscal Q1 financial results, expected after the closing bell, amid share gains in the broader chip sector.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.7% higher.Investors look forward to Nvidia's earnings for key information on trends in artificial intelligence and the demand for chips. The company's stock rose 1.5% in premarket activity.Traders digested the latest round of earnings, with Analog Devices (ADI) posting higher fiscal Q2 adjusted earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2% at $109.06 per barrel and US West Texas Intermediate crude 1.8% lower at $102.33 per barrel.The Atlanta Fed Business Inflation Expectations survey for May is scheduled for release at 10 am ET. The Federal Reserve releases minutes of its most-recent policy meeting at 2 pm.Fed Governor Michael Barr is slated to speak on Wednesday.

CBOE Volatility Index Slips Pre-Bell as Treasury Yields Drop While Investors Await Nvidia Earnings, FOMC Minutes

Sector Update: Tech Stocks Mixed Late Afternoon

Tech stocks were mixed late Tuesday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 0.7%.The Philadelphia Semiconductor index added 0.2%.In corporate news, Intel (INTC) is urging notebook and personal computer makers to increase adoption of central processing units built on its latest 18A production process as demand for AI computing strains processor supply, Nikkei Asia reported. Intel shares were up 3.1%.Apple's (AAPL) Chief Hardware Officer Johny Srouji is reorganizing hardware development and shifting oversight of core functions to speed up work on future devices, Bloomberg reported. Apple shares were fractionally higher.Nvidia's (NVDA) fiscal Q1 sales are expected to outperform market projections, with potential for "enhanced" cash returns likely to be among the key areas of focus, BofA Securities said. Nvidia shares were down 0.5%.Meta Platforms (META) is moving 7,000 employees into new AI-focused roles as part of a broader restructuring that also includes planned job cuts later this week, Bloomberg reported Monday. Meta shares fell 1.5%.

Market Chatter: Amazon Gains Ground in AI Chip Development

Amazon.com's (AMZN) long-running effort to develop an alternative to Nvidia's (NVDA) AI chips is starting to gain ground, The Information reported Tuesday.Anthropic and OpenAI have agreed to rent large amounts of current and future Trainium capacity from Amazon, and recent software improvements are prompting smaller developers to consider shifting workloads to the chip, the report said.Amazon did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $259.35, Change: $-5.51, Percent Change: -2.08%