Today’s Market Movers: Nvidia Earnings, Software Selloff, and Bitcoin Pullback
TLDR
- Nvidia shares edged up in premarket trading as investors await its earnings report after the bell
- Intuit dropped nearly 12% after issuing weak revenue guidance for fiscal 2027
- Software stocks broadly fell, with ServiceNow, Adobe, Salesforce, and Palantir all sliding
- Bitcoin slipped to around $78,500 from highs near $81,000, dragging crypto-linked stocks lower
- Biohaven surged 13% after announcing a licensing deal with SK Biopharmaceuticals worth up to $795 million
Markets opened cautiously on Wednesday as investors braced for Nvidia’s quarterly earnings report, due after the closing bell. The results are widely expected to set the tone for the artificial intelligence trade going forward.
Nvidia shares rose 0.3% in premarket trading after gaining 2.2% the previous session, ending a seven-day losing streak. Intel and Broadcom also edged higher, but chip stocks mostly stayed in a holding pattern ahead of the report.
Software Stocks Take a Hit
The software sector had a rough start to the day. Intuit fell nearly 12% after beating quarterly earnings expectations but issuing a revenue outlook that fell well short of Wall Street forecasts.
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