Major stock indexes finished near session highs Wednesday as Wall Street awaited Nvidia earnings along with reports from artificial intelligence software leaders CrowdStrike and Snowflake. Meanwhile, shares of AI chip leader Nvidia edged into the red at the closing bell on the stock market today.
The Dow Jones Industrial Average rose 0.3% with Dow component Salesforce giving the 30-member index a lift. Nvidia was due to post second-quarter results after the market close.
The report was seen having implications for the artificial intelligence trade that has spurred massive gains for the stock market and data center plays. The company's China chip sales outlook is also on watch. Follow IBD's live coverage of Nvidia earnings.
Meanwhile, the S&P 500 gained 0.2%, scoring a fresh record close. The tech-heavy Nasdaq composite finished 0.2% higher as well. The index had been choppy earlier in the session after opening lower.
Volume was higher on the New York Stock Exchange and lower on the Nasdaq, compared with the same time on Tuesday. Breadth was positive with advancers in the lead by nearly 5-to-3 on the NYSE and more than 5-to-4 on the Nasdaq.
Meanwhile, the Russell 2000 index of small-cap stocks outperformed the major large-cap indexes, rising 0.7%. The yield on the benchmark 10-year Treasury note fell to 4.24%.
Crude oil futures rose slightly to $63.88 a barrel.
3:18 p.m. ET
Enova International Tops Buy Point
Wednesday's breakouts included Enova International. Shares surged nearly 5% and edged past a buy point of 119.06 from a consolidation base.
The move, however, came in low volume. Enova, which dropped sharply on July 25 after reporting earnings, is breaking out from a first-stage consolidation that formed immediately after a 21-week cup base.
Futures: Nvidia Leads Big Earnings Movers
2:11 p.m. ET
S&P 500 Sectors: Communication Services Lags, Energy Gains
Nine of the 11 sectors in the S&P 500 were higher. Energy led with an increase of more than 1%. Communication services and industrials were modestly lower.
1:08 p.m. ET
More Earnings On Deck
Along with Nvidia, investors are also awaiting financial results from CrowdStrike, Snowflake, Veeva Systems, Agilent Technologies, NetApp, Pure Storage, Nutanix, and Urban Outfitters.
Shares of Urban Outfitters are in a buy zone above a buy point of 74.45. Snowflake has retreated from a 25% profit zone from a buy point of 184.29. CrowdStrike is finding support at its 200-day moving average.
Veeva Systems is just above a buy point of 291.69. Agilent Systems is testing support at its 50-day moving average. Pure Storage has been trading above converged 50-and 200-day moving averages. Nutanix is below its 50-day moving average. NetApp is above that moving average.
11:50 a.m. ET
Furniture Stock Falls On Tariff Risk
Furniture maker Williams-Sonoma fell 1% despite its strong second-quarter results. Shares fell within a cup-with-handle base that has a buy point of 210.59. Earnings of $2 per share came in above estimates of $1.81 for its second quarter. Sales of $1.84 billion also topped views of $1.83 billion. But shares of the furniture maker were pressured by tariff risk after President Donald Trump recently said he plans to place levies on furniture imports.
Palantir was among Wednesday's laggards. Shares fell nearly 2%.
10:32 a.m. ET
Stock Market Today: Earnings Move These Stocks
NCino rebounded from its 50-day moving average after its second-quarter results and soared 17% in recent action. The finance technology company reported earnings of 22 cents per share, up 69%.
Earnings growth had decelerated in the prior two quarters. Sales grew 12% to $148.8 million. For its third quarter, the company gave a sales outlook of $147 million at the midpoint.
In retail, PVH initially gained, but reversed and fell more than 1% after its second-quarter report even though earnings and sales exceeded the company's earlier outlook. Earnings of $2.52 per share topped PVH's expectations of $1.93 per share at the midpoint. Sales of $2.17 billion rose 4%, also exceeding the company's forecast.
The Calvin Klein and Tommy Hilfiger parent raised its full-year revenue growth outlook to low single digits after including the impact of tariffs. Shares are in a cup base with a buy point of 87.93.
Elsewhere, packaged-foods maker JM Smucker fell more than 4%, undercutting its 50-day and 200-day moving averages in heavy volume. Earnings of $1.90 per share in its first quarter declined from the year-earlier period and missed views of $1.93 per share. Sales of $2.1 billion were in line with estimates and declined 1% from a year ago.
9:41 a.m. ET
Stock Market Today: Nasdaq 100 Winners, Losers
Among the Nasdaq-100 stocks, Datadog and Atlassian each advanced roughly 2%, making them some of the best performers in early trade.
On the downside, PDD Holdings and PayPal declined 2.7% and 1.7%, respectively.
8:56 a.m. ET
Dow Jones Movers: Amazon, Boeing, Microsoft
Inside the blue chip Dow index, Amazon.com, Boeing and Microsoft were among the early movers in premarket trading.
Amazon stock was off a fraction, after making gains in Tuesday's session. Boeing shares climbed 0.8%, moving past an early entry at 236.45. And Microsoft stock gained 0.3%, but remained below its 50-day moving average, following recent losses.
8:11 a.m. ET
Stock Market Today: Nvidia Earnings On Deck
Nvidia stock tacked on 0.6% premarket ahead of fiscal second-quarter results late Wednesday. Analysts expect adjusted earnings of $1.01 a share, up 48% year over year, on sales of $46 billion, up 53%.
Shares of the artificial intelligence chip leader climbed 1.1% Tuesday, extending a win streak to three sessions. Nvidia stock is bouncing off its 10-week moving average and nearing new highs.
Earnings Movers: Kohl's Soars
In retail Kohl's stock soared more than 21% Wednesday morning after the retailer handily beat second-quarter earnings estimates and raised its outlook for the full year.
Other key earnings movers also included Abercrombie & Fitch, MongoDB, Okta, PVH and Williams-Sonoma.
Abercrombie shares slipped 0.6%, while Mongo stock catapulted more than 29% higher. Okta stock jumped 4%, as PVH shares climbed nearly 7%. Finally, William-Sonoma moved up modestly in premarket action.
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