Overview
The U.S. stock market closed with gains today, notably influenced by Nvidia's upcoming earnings release and expectations for Federal Reserve monetary policy easing. However, Nvidia's post-announcement stock performance dampened after failing to meet market hopes.
| Nasdaq Composite | S&P 500 |
| Dow Jones Industrial Average | 1 South Korean won equals |
A Major News Story
Nvidia outlined a Q3 revenue forecast of $54 billion, matching analysts’ predictions but not reaching some bullish estimates. The outlook particularly highlighted issues in Chinese data center revenues. Q2 reports exceeded market expectations, but revenue growth was at its lowest in two years, and additional buyback plans didn't prevent stock slides. CEO Jensen Huang emphasized the Chinese market's potential value at approximately $50 billion annually.
Tomorrow's Economic Indicators
| Announcement Time | Indicator |
|---|---|
| 9:30 PM | U.S. Q2 Real GDP Growth Rate |
| 10:30 PM | U.S. Q2 Real Personal Consumption Expenditures |
| 10:30 PM | U.S. Weekly Jobless Claims |
| 11:00 PM | U.S. Pending Home Sales Index |
| 11:30 PM | U.S. EIA Natural Gas Inventories |
| Midnight | U.S. Kansas City Fed Manufacturing Activity Index for August |
| Early Morning | U.S. 7-Year Treasury Note Auction |
General Opinion
Today's market rise was largely driven by high expectations for Nvidia's earnings and potential Federal Reserve policy changes. Yet, Nvidia's report led to a stock decline due to unmet expectations. Tomorrow's economic indicators could significantly impact stock market directions.
