This week, NVIDIA"s earnings report is expected to have a significant impact on the market. The results could either boost or undermine investor confidence globally.
Analysts predict that NVIDIA"s Q3 2024 revenue will increase by 82.9% to around $33.1 billion, highlighting the strong demand for AI graphics processing units. Earnings per share are also expected to rise by 85.6% to $0.75.
The S&P 500 index recently experienced a retreat from its record high, but there is a belief that the upward trend may continue. Sector performance has been mixed, with rising Treasury yields affecting growth stocks. The financial and energy sectors remained positive, while major tech players saw declines.
NVIDIA"s earnings report will be closely watched as it could impact the tech sector and overall market sentiment.