Nvidia Earnings Report Set to Shake Up Market Amid Mixed Global Outlook

Nvidia's upcoming earnings report is being closely watched by investors as its valuation appears relatively low compared to growth expectations, according to analysts. The company heads into its earnings report with a low valuation that raises questions about future performance.

Despite this, Nvidia shares rose in anticipation of the earnings release, contributing to an overall increase in U.S. stock futures. This is in addition to Amazon's shares rising 1.8% as robust growth in its AWS cloud division overshadowed slower performance in its core retail business.

The global market saw mixed results, with oil prices falling to a one-week low despite new U.S. sanctions on Iran. Meanwhile, Bitcoin surged briefly topping $80,000 and wiping out three months of declines in just one week as a broader crypto rally gathered pace.