NVIDIA CorporationNvidia shares declined, weighing on the Nasdaq, amid renewed AI valuation concerns ahead of big tech earnings.
The Dow Jones Industrial Average edged higher at midday on July 27, while the Nasdaq Composite slipped as a decline in Nvidia shares offset optimism from cooling geopolitical tensions. The Dow was up 0.13% to 52,017.19, the S&P 500 fell 0.33% to 7,387.76, and the Nasdaq dropped 0.44% to 24,840.43. RTX Corp climbed 2.61% to $218.28 on strong second-quarter earnings, and SAP surged 7.4% to $171.79, extending last week's gains after beating earnings expectations. Reddit rose 6.7% to $171.79 on optimism ahead of its upcoming earnings report. Oil prices fell sharply, with WTI crude down almost 7% to $83.15 a barrel, following news of a pause in strikes between the U.S. and Iran, which helped lift the Dow slightly. Investors are bracing for further volatility and will be watching the Federal Reserve meeting this week, where rates are widely expected to remain unchanged, though inflationary pressures could prompt a rate increase before year-end. Renewed artificial intelligence valuation concerns also weighed on markets ahead of earnings from Microsoft, Meta Platforms, Apple, and Amazon, with investors focused on capital expenditure plans.
NVIDIA CorporationNvidia shares declined, weighing on the Nasdaq, amid renewed AI valuation concerns ahead of big tech earnings.
Apple Inc.
Amazon.com Inc
Microsoft Corporation
RTX CorporationRTX Corp climbed 2.61% on strong second-quarter earnings.
SAP SESAP surged 7.4%, extending last week's gains after beating earnings expectations.
Reddit, Inc.Reddit rose 6.7% on optimism ahead of its upcoming earnings report.
Meta Platforms Inc.