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Markets today: Stocks fall before Nvidia’s high-stakes earnings

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Stocks fell as traders awaited Nvidia Corp.’s results for clues on whether the artificial-intelligence euphoria that has powered the bull market has run too far.

An electronic stock board displays the Nikkei 225 Stock Average outside a securities firm in Tokyo, Japan, on Monday, Aug. 5, 2024. Photographer: Noriko Hayashi/Bloomberg --

“Nvidia’s earnings report will set the tone for markets before the key payrolls report on Sept. 6,” said Chris Senyek at Wolfe Research. “We remain bullish, but risks are now skewed to the downside over the very near-term. From a seasonal perspective, we enter a weaker period of the year that is even more amplified in election years.”

Cava Group Inc. tumbled after the Mediterranean restaurant chain’s largest individual shareholder and a group of executives filed to sell shares.

 

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