NEW YORK — Nvidia and other tech companies pulled U.S. stock indexes higher after they stumbled in the morning on worries about escalations in the Russia-Ukraine war. The S&P 500 rose 0.4% Tuesday. The Nasdaq composite also erased an early loss to turn 1% higher, while the Dow Jones Industrial Average slipped 0.3%. Nvidia rallied ahead of its profit report for the latest quarter, which is coming on Wednesday.
Activity in the options market suggests Nvidia’s profit report may be the most anticipated event on Wall Street for the rest of the year, beating out the upcoming jobs report and even the next meeting of the Federal Reserve on interest rates, according to strategists at Barclays Capital. The worries also sent investors into U.S. Treasury bonds, which are seen as some of the world’s safest investments. The rise in their prices in turn lowered their yields, and the 10-year Treasury yield fell to 4.37% from 4.41% late Monday.
Walmart climbed 3.7% after topping forecasts for both profit and revenue. The nation’s biggest retailer said it saw broad-based strength across its categories, including sales made both online and in stores. It also said it served more upper-income households, while raising its forecasts for sales and profit for the full year.
Elsewhere on Wall Street, Super Micro Computer jumped 31.9% after it filed a plan to keep its stock listed on Nasdaq’s exchange. It hired an independent auditor, BDO USA, which can help it file financial statements needed in order to comply with Nasdaq’s listing requirements.
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