The stock market began Wednesday\u2019s session hovering around breakeven as Nvidia\u2019s big earnings report loomed later in the afternoon.<\/p>\n
The Dow Jones Industrial Average was up 100 points, or 0.2%. The S&P 500 was hovering around breakeven. The Nasdaq Composite was down 0.2%.<\/p>\n
The yield on the 2-year Treasury note was up to 3.66%, while the 10-year yield was up to 4.29%.<\/p>\n
Nvidia, the largest U.S. company by market capitalization, is set to report quarterly results after the market closes. The firm\u2019s sheer size and its central positioning in the artificial intelligence trend mean the firm\u2019s trajectory has major implications for the stock market rally.<\/p>\n
Sevens Report Research\u2019s Tom Essaye notes that large tech firms are spending hundreds of billions of dollars on AI infrastructure.<\/p>\n
\u201cEssentially, this AI infrastructure buildout is acting like a mini-government stimulus program!\u201d Essaye writes. \u201cAnd it\u2019s not just benefiting the chipmakers. It\u2019s also benefiting utilities (data centers need power), networking, construction, cooling, transportation, etc.\u201d<\/p>\n
The S&P\u2019s rebound from its lows on Tuesday kept the index from starting its second losing streak of August, writes Frank Cappelleri, founder of technical analysis firm CappThesis.<\/p>\n
\u201cAnd while breadth wasn\u2019t overly impressive, the index managed to have 52% of its components tick higher yesterday,\u201d Cappelleri writes. \u201cThat\u2019s now four positive breadth days in the last six dating back to 8\/19.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"The stock market began Wednesday\u2019s session hovering around breakeven as Nvidia\u2019s big earnings report loomed later in the…\n","protected":false},"author":2,"featured_media":1706,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[175],"tags":[79,18,19,17,188],"class_list":{"0":"post-26649","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-business","9":"tag-eire","10":"tag-ie","11":"tag-ireland","12":"tag-markets"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/26649","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=26649"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/26649\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/1706"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=26649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=26649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=26649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}