{"id":13929,"date":"2023-08-23T15:36:49","date_gmt":"2023-08-23T15:36:49","guid":{"rendered":"https:\/\/isafespend.com\/investing\/u-s-stocks-are-rising-as-investors-await-nvidias-earnings-report\/"},"modified":"2023-08-23T15:36:50","modified_gmt":"2023-08-23T15:36:50","slug":"u-s-stocks-are-rising-as-investors-await-nvidias-earnings-report","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=13929","title":{"rendered":"U.S. stocks are rising as investors await Nvidia’s earnings report"},"content":{"rendered":"
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Investing.com — Stocks were rising on Wednesday as investors await tonight’s earnings release from artificial intelligence chip maker Nvidia.<\/p>\n

At 11:03 ET (15:03 GMT), the was up 113 points or 0.3%, while the was up 0.8% and the was up 1.3%.<\/p>\n

The blue-chip Dow Jones Industrial Average and the broad-based S&P 500 gave up some of their recent gains Tuesday, closing 0.5% and 0.3% lower respectively.<\/p>\n

This followed weakness in a number of retail stocks, including Dick\u2019s Sporting Goods (NYSE:), which fell 24% in its worst daily performance ever after slashing its full-year earnings guidance, and Macy\u2019s (NYSE:), which dropped 14% as net sales fell 8% in the second quarter on an annual basis.<\/p>\n

Other retailers report today, including department store operator Kohl’s (NYSE:), which and reaffirmed its full-year guidance.<\/p>\n

Nvidia results could sway market sentiment\u00a0<\/strong><\/h2>\n

The earnings highlight, however, is likely to come after the closing bell, as the world\u2019s most valuable chip designer, Nvidia (NASDAQ:), releases its latest .<\/p>\n

The California-based company, which manufactures the graphics processors that power generative artificial intelligence, has been at the center of global euphoria around the development of the nascent technology.<\/p>\n

Its shares have tripled this year, propelling the stock’s market capitalization to above $1 trillion, and its outlook for the rest of the year could influence the near-term course of not only the AI boom but broader market sentiment.<\/p>\n

U.S. economy shows resilience<\/strong><\/h2>\n

Recent data, including hotter-than-expected and increasing , has pointed to resilience in the U.S. economy despite the series of hikes to combat .<\/p>\n

This prompted Richmond Fed President to warn that the U.S. central bank must be ready to address a reacceleration in the country\u2019s economy ahead of the Fed\u2019s annual symposium at , Wyoming, starting at the end of the week.\u00a0<\/p>\n

The news out of Europe was less impressive Wednesday after the flash readings of monthly surveys suggested a second month in a row of eurozone, and U.K., business contraction.<\/p>\n

Crude retreats on European economic woe<\/strong>\u00a0<\/h2>\n

Oil prices weakened Wednesday as the weak in Europe reminded traders that demand will likely be affected in the second half of the year from this large group of consumers.<\/p>\n

On a more positive note, U.S. crude inventories dropped by about 2.4 million barrels last week, according to data from industry body , with the , the statistical arm of the U.S. energy department, set to confirm this draw later Wednesday.<\/p>\n

(Peter Nurse and Oliver Gray contributed to this item.)<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Investing.com — Stocks were rising on Wednesday as investors await tonight’s earnings release from artificial intelligence chip maker Nvidia. At 11:03 ET (15:03 GMT), the was up 113 points or 0.3%, while the was up 0.8% and the was up 1.3%. The blue-chip Dow Jones Industrial Average and the broad-based S&P 500 gave up some<\/p>\n","protected":false},"author":1,"featured_media":13930,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[32],"class_list":{"0":"post-13929","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing","8":"tag-featured"},"yoast_head":"\nU.S. stocks are rising as investors await Nvidia's earnings report | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Investing.com -- Stocks were rising on Wednesday as investors await tonight's earnings release from artificial intelligence chip maker Nvidia. 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