PARIS (Reuters) – U.S. stock markets advanced on Wall Street on Wednesday, with investors positioning themselves ahead of the release of Nvidia’s results after the close.
In early trading, the Dow Jones index gained 59.25 points, or 0.17% to 34,346.78 points and the broader Standard & Poor’s 500 rose 0.25% to 4,398.60 points. The Nasdaq Composite took 0.24% or 32.94 points, to 13,538.81.
Investors are betting that Nvidia’s quarterly results, expected after the close, will beat market expectations thanks to appetite for artificial intelligence.
Nvidia’s latest quarterly report was much better than consensus expected, triggering a rally that has supported US equity performance over the past three months.
However, disappointing figures or simply in line with investors’ expectations could be enough to trigger a correction, the price of the chipmaker being close to its all-time high before the opening of the markets.
On the stock side, analog chipmakers are down, with Analog Devices reporting lower third-quarter revenue and losing 3.84%.
(Writing by Corentin Chapron, editing by Kate Entringer)
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