Wall Street traded cautiously on Wednesday, with major indices little changed at midday as investors awaited NVIDIA Corp.‘s (NASDAQ:NVDA) second-quarter earnings after the bell.
NVDA is performing well relative to peers. See the market dynamics here.
The AI giant has more than doubled in value since April’s tariff-driven low, becoming the poster child of a rally that pushed the S&P 500 to record highs this month.
Traders are laser-focused on Nvidia’s Blackwell chip momentum, China updates and gross margins — three factors likely to steer not only the stock but the broader market reaction.
By midday in New York, the S&P 500 edged up 0.2% to 6,478, just shy of its record highs of 6,481. Nvidia shares added 0.1% to $182.
The Nasdaq 100 also ticked up 0.1% to 23,550, roughly 2% below its all-time peak, while the Dow gained 0.3% to 45,500, within striking distance of …