As investors expected the much-awaited release of Nvidia’s most recent earnings report, U.S. stocks hovered around the flatline on Wednesday.
The Dow Jones Industrial Average dropped by 0.2%, while the S&P 500 dropped by just 0.1%. A little over the flatline was the Nasdaq Composite.
With management pointing to weaker purchasing trends in discretionary categories, Target shares dropped more than 7% in response to lower-than-expected results. Concerns over the consumer’s health were expanded by the retailer’s issues.
Before the company’s quarterly earnings report following the bell on Wednesday, Nvidia’s shares fell 0.7%.
From the chipmaker, analysts anticipate another solid quarter. Consensus projections, according to LSEG statistics, indicate that revenue and earnings per share increased by 240% and 400%, respectively, in the past year.
Source (CNBC)
