Nvidia Earnings Report Casts Shadow Over Markets

The S&P 500 and Dow Jones Industrial Average took a slight hit in midday trading, while Nvidia's upcoming earnings report is on everyone's mind.

With Nvidia set to release its Q2 2027 results after the closing bell tonight, investors are eagerly awaiting what could be a big increase in revenue and earnings per share. Analysts expect Nvidia to nearly double its year-over-year revenue to $91.9 billion and see earnings more than double from $1.04 to $2.08 per share.

The morning's inflation data, which showed the PCE price index rose 0.2% in July and 3.7% over the past year, was met with a collective yawn from Wall Street. This may indicate that markets are pricing only about a one-in-three chance of a rate move at the September 15-16 meeting.

Meanwhile, the gold-and-Bitcoin rally took a breather today, with the iShares Bitcoin Trust down 1.2% and the SPDR Gold Trust dropping 1.6%. The day's odd headline belonged to Meta Platforms, which rose about 1% despite settling a social media addiction case for $16.7 billion.