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US Stocks Slip as Investors Await Nvidia Earnings, Fed Minutes

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US Stocks,Investors,Nvidia

US stocks slipped on Wednesday as investors counted down to high-stakes earnings from AI darling Nvidia (NVDA) and the release of Federal Reserve minutes which reiterated the central bank's focus on not cutting interest rates too soon.

US stocks slipped on Wednesday as investors counted down to high-stakes earnings from AI darling Nvidia (NVDA) and the release of Federal Reserve minutes which reiterated the central bank's focus on not cutting interest rates too soon. The S&P 500 (^GSPC) dropped more than 0.1%, while the Dow Jones Industrial Average (^DJI) shed 0.1%, or 40 points. The tech-heavy Nasdaq Composite (^IXIC) led the way lower, down 0.6% on the heels of Tuesday's declines.

Stocks are lagging, with the focus fixed on looming results from Nvidia, whose shares fell 4% on Tuesday for their worst day since Oct. 17 as investors positioned for the release. The stock extended that loss on Wednesday, falling more than 3% heading into its earnings release. Expectations are running high for the chipmaker's fourth quarter results, seen both as a barometer for the AI trade and as a potential turning point for stocks more broadly. The market is on edge for any disappointment in the report, expected after the bell. Nvidia is one of a small group of megacaps behind a big chunk of recent gains for stock indexe

 

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