Nvidia Corp.’s upcoming quarterly earnings report could have a significant impact on the US stock market, potentially affecting its near-term direction. BofA Global Research analysts believe that the chip maker’s results may pose a greater risk to the S&P 500 than other major economic indicators such as the jobs report, CPI, or the Federal Reserve meeting.
The analysts’ note highlights that despite the market’s focus on election-related implications, interest rate volatility, and Fed meetings, the options market still shows a strong connection between Nvidia earnings and the broader market. This suggests that investors are taking Nvidia’s quarterly results seriously and that they could have a significant influence on market sentiment.
As Nvidia prepares to release its earnings report on Wednesday, investors will be closely watching for any signs of weakness or strength in the company’s financial performance. The outcome of this report could have far-reaching implications for the stock market, making it an event worth keeping a close eye on.
Source: https://www.marketwatch.com/story/nvidias-earnings-could-determine-the-stock-markets-near-term-direction-bofa-898db3f5