Good afternoon. U.S. equities are a mixed bag this morning after chipmaker Nvidia released its earnings yesterday.The highly-anticipated report fell largely within expectations, both in terms of the results and the outlook for the coming quarter. You'd think that'd be cause for celebration, but at first, investors were disappointed. They've put most of that disappointment aside today, with the stock down just 1%.
Nvidia wasn't the only report that drew investors out. In other software-related reports, Snowflake (+18%), HP (+3.4%), and CrowdStrike (+3%) are all up today. The former two credited AI for some of their growth and adoption. Today, we'll be looking out for even more AI-flavored earnings in after hours with Dell and Marvell.
Thursday Reading:
Zooming out, investors are digging into today's economic data. This morning, fresh insights on GDP, the labor market, and PCE prices were released. We have more of the nitty-gritty details in Stock Market Today for those interested in the specifics.
But aside from those specifics, investors have U.S. indexes going 1-for-4 as we enter the afternoon. The Nasdaq Composite (+0.18%) is the only index in the green, while the Russell 2000 (-0.04%) and S&P 500 (-0.04%) have retreated from their opening strength. The Dow (-0.30%) is facing the steepest decline right now.
-- Noah Weidner, markets reporter
