Nvidia Earnings Preview: A Barometer of AI Spending

The S&P 500 Index and Nasdaq 100 Index declined slightly today ahead of Nvidia's earnings results, while bond yields rose. The Dow Jones Industrial Average fell more significantly.

US economic news was mixed for stocks. July capital goods new orders nondefense ex-aircraft and parts rose less than expected, but July personal spending and income exceeded expectations.

Nvidia's earnings will provide insight into AI spending by hyperscalers. Analysts project that Nvidia's Q2 revenue will nearly double from a year ago, the fastest pace in two years.