Technology Stocks Rise: Expectations After Nvidia

Technology Recovery on Wall Street and Nvidia Expectations

On Wednesday, stocks mostly rose as Wall Street recovered slightly from a wave of tech selling, with investors preparing to gauge the direction of AI trading ahead of Nvidia's earnings.

Nasdaq Composite Index (%IXIC) led with a gain of 0.6%, while S&P 500 (%GSPC) climbed by 0.4%, offsetting previous larger losses. The Dow Jones Industrial Average (%DJI) rose by 0.1%, spending most of the day in a sideways motion due to having fewer tech names.

These moves indicate a recovery from the losses recorded over the past four days. Nvidia closed the day with a 2.5% increase ahead of its earnings announcement. Bitcoin (%BTC-USD), on the other hand, fell below $90,000, continuing to approach its lowest levels since April.

Investors are preparing for Nvidia's third-quarter earnings, which are expected to guide the market and could move the stock price up or down by 7% following the results.

Block, Inc. (XYZ) is targeting an annual growth rate of 15% by 2028. The company's CEO, Jack Dorsey, stated they will work to expand their products and reach more users. Block shares gained more than 8% following this announcement.

On Wednesday, crude oil prices fell by more than 2%. According to the Energy Information Administration, a larger-than-expected decrease in U.S. reserves affected oil prices. Brent oil (BZ=F) was trading at $64 per barrel, while West Texas Intermediate oil (CL=F) dropped to $59.30.

Over the next six months, oil prices are expected to come under pressure, particularly toward 2026 due to oversupply conditions. Goldman Sachs anticipates rising oil prices in the coming years.

Shaped data shows that tech and energy stocks are gradually declining. Earnings from technology companies like Nvidia and Block will play a significant role in providing clues about investor sentiment and the overall market atmosphere.