Live Nasdaq Composite: NVDA Falls Ahead of CEO Keynote
The markets are jittery out of the gate today, with all three of the major stock market indexes starting moving lower. After two straight days of gains, the S&P 500 is retreating as of…
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Live Nasdaq Composite: Markets Find Tailwinds on Nvidia Earnings Day
Live Updates
Newest firstTech Moguls Collaborate
Tech moguls Elon Musk and Jensen Huang put the spotlight on a new 500-megawatt xAI venture in Saudi Arabia built around Nvidia’s technology. Huang said Nvidia is also collaborating with the kingdom on “supercomputers.”
The Nasdaq Composite and S&P 500 are holding onto gains while the Dow Jones Industrial Average has turned lower.
Alphabet Stock Soars
Google parent Alphabet (Nasdaq: GOOGL) stock is soaring today, up 5.6% to hover at $300 per share for the first time ever. GOOGL stock traded as high as $303 today, setting a fresh all-time high. The bullish catalyst appears to be excitement around Google’s Gemini 3.
Wall Street Calls
Analyst firm Jefferies has upgraded shares of DoorDash (Nasdaq: DASH) to a “buy” rating from “hold,” touting the online delivery company’s app algorithm.
Jefferies also likes Zion Bancorp (Nasdaq: ZION), improving its rating from “hold” to “buy,” suggesting that regional banks have the upside advantage in the financial sector.
Baird analysts have lifted shares of regional bank Simmons First National (Nasdaq: SFNC) to an “outperform” rating from “neutral,” urging investors to buy any dip.
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Full Coverage
The story so farThis article will be updated throughout the day, so check back often for more daily updates.
Today it’s all about Nvidia (Nasdaq: NVDA | NVDA Price Prediction) stock, and that has put the wind at the sails of the markets. The leading AI chip stock is tacking on 1.3% this morning as the markets await what is highly expected to be another blowout quarter led by CEO Jensen Huang. Markets will be watching and waiting for those results coupled with a belated jobs report to determine whether the recent market pullback was warranted or overdone. Sectors of the economy are spilt, with technology and financials seeing green while energy and consumer staples stocks are trading modestly lower.
Here’s a look at where things stand as of morning trading, a far cry from yesterday’s steep sell-off:
Dow Jones Industrial Average: 46,112.36 Up 15.38 (+0.03%)
Nasdaq Composite: 22,481.85 Up 33.94 (+0.15%)
S&P 500: 6,621.82 Up 3.25 (+0.05%)
Wall Street on Nvidia Stock
Investors are jittery about AI becoming a bubble. After all, Nvidia stock has already ballooned by 35% year-to-date with a market cap in the ballpark of $4.4 trillion. But Wall Street is as bullish as ever on AI stocks. Here’s what they’re saying on Nvidia stock:
For Q3, analysts have set the bar for Nvidia to report revenue of approximately $55 billion with EPS predicted to come in at a ballpark $1.25 per share, driven by roughly $49 billion generated from data centers alone. Bank of America analysts have gotten ahead of the report, emphasizing their “buy” rating on Nvidia stock and believing its undervalued in the current AI boom. UBS has kept its bullish $230 price target on NVDA stock, while DA Davidson is also on the bullish train, with a price target of a whopping $250 per share.
Market Movers
Home goods store Lowe’s (NYSE: LOW) is gaining 3.4% today after declaring its cash dividend of $1.20 per share.
Diamondback Energy (Nasdaq: FANG) is down 2.7% after a recent rally on the heels of its quarterly earnings report and dividend announcement.
AppLovin (Nasdaq: APP) is gaining 1.6% today after analysts recently raised the price target on the stock.
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Gerelyn Terzo
Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
