How Nvidia earnings could send ripples through Wall Street

All eyes are on Nvidia . Nvidia is slated to post fiscal second-quarter earnings after the bell Wednesday. Analysts have lofty expectations for the chipmaker, with Refinitiv averages pointing to a more than 300% year-over-year profit increase and revenue growth exceeding 60%. The report could also send ripples through the entire stock market . Nvidia is far and away the best-performing S & P 500 member this year, up more than 200% in that time.

mountain NVDA in 2023 The report will come during a tough time for the market. The S & P 500 is down more than 4% in August, on pace for its first monthly decline since February. Nvidia has also struggled this month, losing more than 2%. That puts it on track to post its first one-month loss since April. There are also concerns that this may be an overly crowded trade, which could prime it for a decline if Wednesday's report underwhelms Wall Street.

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