AllPennyStocks.com Stocks Dawdle Ahead of Nvidia News
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Stocks Dawdle Ahead of Nvidia News

November 20,2024 11:14 am EST

Stocks Dawdle Ahead of Nvidia News

Stocks dipped on Wednesday as Nvidia slumped 2% ahead of its market moving earnings report, and Wall Street assessed disappointing results from Target

The Dow Jones Industrials lost 42.05 points to 43,226.89.

The S&P 500 stumbled 31.19 points to 5,885.79.

The tech-heavy NASDAQ dropped 161.97 points to 18,825.50.

All eyes are on AI darling Nvidia. The results could hold more significance than some key economic reports, given the chipmaker's $3.6 trillion market capitalization, and set the tone for the market for the rest of the week. Investors will search for details on demand for its Blackwell AI chips, which CEO Jensen Huang last month characterized as “insane.”

Costco and Walmart were down marginally, while discount retailers Dollar Tree, Dollar General and Five Below declined more than 3% each. Home Depot dipped 1%.

Prices for the 10-year Treasury sank a bit, raising yields to 4.40% from Tuesday's 4.39%. Treasury prices and yields move in opposite directions.

Oil prices gained 30 cents to $69.69 U.S. a barrel.

Prices for gold took on $20.70 an ounce to $2,651.70 U.S.

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