Nvidia Earnings and Fed Plans Put US Stock Market on Edge
The US stock market is bracing for a crucial earnings week, with Nvidia and Marvell Technologies set to release their quarterly results. Investors are closely watching these chipmakers' performances, as well as the Federal Reserve's plans to stabilize long-term Treasury yields.
Nvidia's shares have been declining over the past seven days, despite analysts predicting a 97.2% increase in sales for the quarter, reaching $98.18 billion.
The broader semiconductor industry has also seen weakness due to price-hike concerns, leading to declines in the VanEck Semiconductor ETF and iShares Semiconductor ETF indexes by about 2.5% each.
Meanwhile, U.S. Treasury yields have moved lower after reports that the Treasury could tap its nearly $1 trillion General Account to fund an expanded government bond buyback program.