US stocks end relatively unchanged as traders await Nvidia’s earnings
The S&P 500 was little changed, the Russell 2000 inched higher, and the Nasdaq 100 was up 0.2% on Wednesday.
Tech was the best-performing S&P 500 sector ETF. Consumer staples, a defensively oriented sector that had been holding up quite well, was trounced and finished at the bottom of the sector leaderboard.
Nvidia rose ahead of earnings, though the stock ended well off its highs of the day. Tesla fell along with bitcoin, which Barclays analysts think is the best comp for the company.
Adtech firm AppLovin tumbled after a pair of reports from short sellers alleged that the company was gaming Meta’s advertising platform.
Super Micro Computer spiked after completing the necessary filings to avoid being delisted from the Nasdaq.
Taser and body-cam maker Axon soared after reporting much better-than-expected quarterly results.
A top- and bottom-line beat for Workday propelled shares higher.
Shares of TJX, parent company of T.J. Maxx, also rose on the heels of its better-than-anticipated quarterly results.
Better-than-expected revenues catalyzed a bid for First Solar despite its big miss on earnings.
Like its peer Home Depot, Lowe’s gained after posting positive same-store sales in the fourth quarter.
Cava, on the other hand, sank after projecting a drop in same-store sales.
AB InBev jumped despite seeing volumes drop for the seventh consecutive quarter.
A rough year for Stellantis, which saw profits shrink by 70%, sent shares lower.
Soft revenues and lower-than-expected total spending on Instacart’s platform fueled a significant sell-off in the stock.
