S&P 500 Faces Nvidia Earnings and Inflation Test as AI Rally Rebounds
The S&P 500 is heading into one of the most important two-day stretches of the summer.
U.S. stocks rebounded on August 25 as technology shares recovered from the previous session's selloff, but investors are now waiting for two events that could determine whether the rally continues: Nvidia's quarterly earnings and the latest U.S. inflation data.
The S&P 500 rose around 0.2% during Tuesday trading, while the Nasdaq gained more strongly as semiconductor and technology stocks moved higher.
The rebound comes after renewed pressure from rising Treasury yields, geopolitical uncertainty and concerns that the artificial intelligence trade may be losing momentum.
But the market's next move may depend less on Tuesday's recovery and more on what happens over the next 48 hours.
Nvidia reports earnings after the market closes on Wednesday, August 26.
The Federal Reserve's preferred inflation measure, the Personal Consumption Expenditures price index, is also due to provide another update on whether price pressures are easing or remaining stubbornly above target.
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