-Wall Street's main indexes were mixed on Monday with the Nasdaq boosted by gains in Nvidia ahead of its earnings this week, while investors awaited a meeting of central bankers for more clues on the U.S. interest rate path.
Nvidia, which sharply outperformed its megacap peers with gains of nearly 6% last week, climbed 4.5% as HSBC raised its price target on the stock to $780, the second highest on Wall Street. The company is expected to forecast quarterly revenue above analysts' estimates when it reports results on Wednesday. Its results will help determine whether this year's stock market rally, fueled by optimism around the potential for artificial intelligence, will continue.
" are important for the next step in the marmarket. Ifey were to disappoint, you would see risk-off for a number of days until we get more information from the Fed on Friday," said Thomas Hayes, chairman at Great Hill Capital LLC. Other beaten-down growth shares gained as well, with Tesla snapping six straight sessions of losses to rise 4.4% after brokerage Baird Equity Research added the stock to its"best ideas" list.
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