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NVIDIA's stock fluctuated after earnings: Up or down next?
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Dow Hits Record High as Tech Stocks Await Nvidia Earnings

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Dow Hits Record High as Tech Stocks Await Nvidia Earnings
U.S. equities ended the trading day with mixed results, reflecting cautious investor sentiment amid ongoing tech stock rotation and the anticipation of potential interest rate cuts by the Federal Reserve. $Dow Jones Industrial Average (.DJI.US)$ closed at a new record high of 41,250.50, up 0.02% (or 9 points). Meanwhile, both the $S&P 500 Index (.SPX.US)$ and $Nasdaq Composite Index (.IXIC.US)$ gained 0.2%.

Key Stock Movements
$Dow Jones Industrial Average (.DJI.US)$ Performers:
$Nike (NKE.US)$: Rose 1.20% to $85.29.
$Honeywell (HON.US)$: Gained 1.11% to $206.11.
$Visa (V.US)$: Increased 0.94% to $270.72.
$S&P 500 Index (.SPX.US)$ Highlights:
Top Gainers:
$ResMed (RMD.US)$: Rose 7.26% to $242.25.
$Insulet (PODD.US)$: Gained 6.58% to $192.58.
$Royal Caribbean (RCL.US)$: Climbed 4.30% to $169.02.
Biggest Losers:
$Walgreens Boots Alliance (WBA.US)$: Dropped 8.96% to $9.45.
$Paramount Global-B (PARA.US)$: Fell 7.15% to $10.52.
$Martin Marietta Materials (MLM.US)$: Decreased 4.58% to $518.57.
Top Gainers:
$VOXX International (VOXX.US)$: Skyrocketed 68.07% to $4.79.
$Addex Therapeutics (ADXN.US)$: Surged 54.61% to $11.58.
$Ensysce Biosciences (ENSC.US)$: Gained 49.17% to $0.64.
Biggest Losers:
$COSCIENS Biopharma (CSCI.US)$: Declined 32.42% to $3.96.
$Jiuzi (JZXN.US)$: Fell 28.83% to $1.58.
$Invivyd (IVVD.US)$: Dropped 28.67% to $0.92.

Market Sentiment

Investors are closely watching the tech sector as they assess the potential longevity of the AI-fueled rally, with Nvidia’s earnings report due after the close on Wednesday serving as a critical gauge. Ahead of the earnings, there was a noticeable rotation out of tech stocks into more cyclical and value-oriented sectors like financials and consumer staples.
Dow Hits Record High as Tech Stocks Await Nvidia Earnings
The market’s cautious optimism is also influenced by expectations of a 25 basis point rate cut in September, bolstered by recent U.S. consumer confidence data reaching a six-month high. This optimism is tempered by concerns about the tech sector’s sustainability in the face of upcoming economic data releases, including jobless claims and the Q2 GDP revision.

Commodities

Gold Futures: Increased by 0.18% to $2,559.90 per ounce.
Crude Oil: Fell by 2.01% to $75.86 per barrel for October delivery.
Brent Oil: Decreased by 1.74% to $78.96 per barrel for November delivery.
Outlook

The U.S. market continues to display resilience, with the $Dow Jones Industrial Average (.DJI.US)$ leading the way to new record highs. However, the tech sector’s volatility, coupled with the Fed’s upcoming decisions, could lead to short-term fluctuations. Investors will be keenly focused on Nvidia’s earnings and further economic data to gauge the market’s next direction.
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