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Nvidia Earnings Loom: AI Trade Faces Test
19 Nov
Summary
- Major U.S. indexes extended losses, led by tech shares.
- Nvidia's upcoming earnings report is crucial for AI trade sentiment.
- Retailer earnings from Target and Lowe's will also be released soon.
Major U.S. stock indexes continued their downward trend on Tuesday, with technology shares once again leading the decline. Futures for the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 showed minimal movement. The recent slide marks the longest losing streak for the S&P 500 since August and the fifth negative day for the Nasdaq Composite in six sessions.
All eyes are now on Nvidia's upcoming third-quarter earnings report, due after Wednesday's market close. Analysts widely anticipate strong results driven by demand for its AI chips, but investor sentiment remains cautious due to concerns about elevated tech valuations. This pre-earnings volatility highlights concentration risks in tech-heavy portfolios.
In addition to Nvidia, investors will also closely examine earnings from major retailers including Target, Lowe's, and TJX Companies. Their reports, expected Wednesday morning, will offer insights into the current state of consumer spending amidst recent economic data limitations.
