U.S. stock futures were little changed late Tuesday as investors looked ahead to the widely anticipated release of U.S. stock futures. NvidiaLatest earnings report.
Dow Jones Industrial Average Futures hovering near the flat line, like Futures linked to the S&P 500 Index and Nasdaq 100 Index.
In expansion transaction, urban clothing store The clothing retailer beat revenue and profit estimates in the latest quarter, sending its shares up 2%. homebuilder toll brothers The company’s shares edged up 1% after beating analysts’ expectations and raising full-year delivery guidance.
This move follows S&P 500 Index and Nasdaq IndexThe creation of the new record will end on Tuesday afternoon. The broader index rose 0.25%, while the tech-heavy Nasdaq rose 0.22%. this Dow Jones Industrial Average Add 0.17%.
Nvidia is top of mind as investors look ahead to the semiconductor giant’s quarterly report Wednesday afternoon. The stock has gained nearly 93% so far in 2024 and was up 0.6% in Tuesday’s trading session.
Liz Ann Sonders, chief investment strategist at Charles Schwab, said the market rebound has the potential to expand beyond technology, but the important thing is that the earnings season ends with strong momentum.
“We do need earnings to continue to grow well because last year was all about multiple expansions and no benefit from earnings,” she said Tuesday afternoon on CNBC’s “Closing Bell.” “I think earnings do need to continue to catch up to the P/E ratio. “
In addition to Nvidia, the following companies Target, analog devices corp., Tian Jiaxing and Raymond James Financial Updated results are also due to be released on Wednesday. Traders will also be watching minutes from the latest Federal Open Market Committee meeting and April existing home sales.
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