Stocks hovered near all-time highs, with traders awaiting Nvidia Corp.’s results for clues on whether the artificial-intelligence euphoria that’s powered the bull market has more room to run.
Just a day ahead of the giant chipmaker’s earnings, investors are getting ready to see whether the AI darling will at least match Wall Street’s lofty estimates. Given its massive influence on broader indexes, Goldman Sachs Group Inc.’s trading desk has once called Nvidia “the most important stock on planet Earth.” A member of the “Magnificent Seven” group of megacaps, the company has been responsible for over a third of the Nasdaq 100’s gain this year.