Nasdaq Soars, Nvidia Earnings in Focus as Wall Street Rallies

The major United States equity indices finished higher today. The Standard and Poor's five hundred gained twenty six point six two points, rising zero point four percent to close at six thousand four hundred sixty five point nine four. The Dow Jones Industrial Average advanced one hundred thirty five point six zero points, up zero point three percent to finish at forty five thousand four hundred eighteen point zero seven, and the Nasdaq composite added zero point four percent. According to Nasdaq, nine of the eleven Standard and Poor's sectors declined yesterday, but today saw rotation back into growth and technology, helping push the market higher.The main factors driving today’s advance include ongoing anticipation for second quarter results from Nvidia, expected after the market closes tomorrow. MarketWatch and other sources note outsized trading activity in Nvidia shares, with many investors eager to gauge whether the artificial intelligence investment wave will continue to lift the technology sector. Communication Services was among today's leading sectors, while Consumer Staples, Health Care, and Utilities, which lagged yesterday, saw muted activity today.Among actively traded stocks, Nvidia and Intel remained in focus. Nvidia held its gains following a small rise yesterday and heavy volume ahead of earnings. Meanwhile, market volatility ticked higher late Monday, but eased today as investors digested recent comments from Federal Reserve Chair Jerome Powell, who last week signaled a possible interest rate cut in September given labor market softness. The CME Group’s FedWatch tool continues to show strong market expectations—approximately eighty four percent probability—for a quarter point cut when the Federal Reserve meets next month.On the data front, the Conference Board reported a dip in consumer confidence to ninety seven point four in August from ninety eight point seven in July, reflecting rising anxieties about the job market and future income. United States durable goods orders dropped two point eight percent for July, which was better than many feared, and helped bolster sentiment in the second half of the session.Looking ahead, pre-market futures are indicating modest gains for tomorrow as traders remain focused on both Nvidia’s earnings and upcoming economic releases. Highlights on the economic calendar include Gross Domestic Product data Thursday, as well as Personal Consumption Expenditures inflation numbers on Friday, both of which may set the tone for Federal Reserve policy expectations. Other corporate earnings tomorrow include several mid-sized technology and retail firms, but Nvidia’s update remains the principal market catalyst.Thank you for tuning in and remember to subscribe. This has been a quiet please production, for more check out quiet please dot ai.For great deals check out https://amzn.to/403yeYoThis content was created in partnership and with the help of Artificial Intelligence AI