S&P 500 Declines Amid Mixed Market Reactions to NVIDIA Earnings and Inflation Data
The S&P 500 edged lower despite strong earnings from NVIDIA, which significantly outperformed expectations. The index remained cautious ahead of the report due to uncertainty around inflation data and broader market valuations. NVIDIA reported revenue of $96.2 billion for the quarter—well above the estimated $92 billion—and a robust 106% year-over-year increase, with earnings per share at $2.22 versus an expected $2.09. Despite these results, shares initially dipped in regular trading before rebounding sharply by over 4% in after-hours sessions. The core PCE inflation rate remained stable at 3.3% annually and rose slightly as expected month-over-month, offering no new impetus for the Federal Reserve to adjust policy. However, total PCE came in hotter than anticipated, adding uncertainty ahead of NVIDIA's report.
Tickers: $NVDA
Topics: core PCE inflation NVIDIA earnings S&P 500