U.S. stocks climbed Tuesday as yields eased and investors awaited Nvidia's Wednesday report.
Why it matters: Nvidia has become a key barometer for the AI trade and a wider swath of equities. Its results could ripple through chipmakers, data-center names and broader market sentiment.
- The S&P 500 was up about 0.2% and the Nasdaq Composite about 0.4% at midday Tuesday.
- The 10-year Treasury yield fell to 4.64% from 4.70% late Monday and 4.74% on Friday.
- Nvidia is scheduled to report quarterly results Wednesday after the close.
- AP said falling oil prices also helped ease inflation and bond-market worries.
U.S. stocks started Tuesday higher as Treasury yields eased for a second day and semiconductor shares helped drive the advance, according to AP.
As of midday, the S&P 500 was up about 0.2% and the Nasdaq Composite about 0.4%, with Nvidia and other AI-linked chip names among the leaders.
The 10-year Treasury yield fell to 4.64% from 4.70% late Monday and 4.74% at the end of last week, easing some of the pressure on growth stocks. AP also tied the calmer tone to falling oil prices, which reduced inflation and bond-market worries.
The move comes ahead of Nvidia's quarterly report Wednesday after the close, which investors are watching closely as a test for the AI trade. Reuters said Nvidia has become a proxy for the wider AI ecosystem, with implications for chipmakers and data-center financiers. Reuters also reported that futures were firmer earlier Tuesday as investors waited for Nvidia and the Personal Consumption Expenditures price index, the Federal Reserve's preferred inflation gauge.
By the numbers
- 0.2% - gain in the S&P 500 at midday Tuesday
- 0.4% - gain in the Nasdaq Composite at midday Tuesday
- 4.64% - level of the 10-year Treasury yield, down from 4.70% Monday
What's next: Nvidia reports quarterly results Wednesday after the close.