The major US stock indices closed solidly higher today, rebounding after yesterday’s sharp declines. The S&P fell -1.04% and the NASDAQ dropped -1.12% in the prior session, but buyers stepped back in today. The S&P rose 0.77%, the NASDAQ gained 1.04%, the Dow advanced 0.76%, and the Russell 2000 led with a 1.12% increase. Risk appetite returned as traders positioned ahead of a key earnings catalyst.
That catalyst comes tomorrow after the close when Nvidia reports earnings. Shares moved up 0.68% today to $192.86, bringing the year-to-date gain to 3.41%. With the stock sitting near important technical resistance, the reaction to earnings could have broader implications for overall market sentiment.
Looking at the daily chart, Nvidia is pressing against a topside swing area between $193.63 and $196. That zone has acted as resistance in the past. A sustained move above it would shift the technical bias more firmly to the upside and have traders targeting the all-time high from last October at $212.19.
On the downside, the most recent corrective low on February 5 came within $2 of the rising 200-day moving average before finding support. That moving average remains a key longer-term risk-defining level. Staying above it keeps the broader uptrend intact.
In short, equities bounced today, but tomorrow’s Nvidia earnings could be the next shove — either fueling a breakout toward record highs or reinforcing resistance near current levels.
Some big gainers today included:
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AMD (AMD): +8.77%
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Roblox (RBLX): +7.51%
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PayPal (PYPL): +6.74%
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Trump Media & Technology Group (DJT): +6.73%
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Intel (INTC): +5.73%
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Papa John’s (PZZA): +5.65%
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United Airlines (UAL): +5.06%
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Synopsys (SNPS): +4.73%
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Box (BOX): +4.54%
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Corning (GLW): +4.39%
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AMD (AMD) [+8.77%]: The primary driver is a multi-year deal worth up to $100 billion to supply Meta Platforms with its latest MI450 AI chips for data centers. As part of the agreement, Meta received warrants to purchase up to 160 million shares of AMD stock.
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PayPal (PYPL) [+6.74%]: Shares are surging due to takeover speculation that a strategic buyer or private equity firm is evaluating a bid for the company. This follows a recent leadership shakeup where Enrique Lores was named the new CEO.
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Corning (GLW) [+4.39%]: The stock is hitting all-time highs as analysts (UBS and Morgan Stanley) raised price targets, citing a “boom” in AI data center infrastructure. This momentum is heavily supported by a $6 billion fiber-optic deal with Meta.
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Trump Media & Technology Group (DJT) [+6.73%]: Gains are tied to its $6 billion merger with fusion energy/AI firm TAE Technologies and recent shareholder distributions of digital tokens. Investors are also reacting to anticipation surrounding tonight’s State of the Union address.
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Intel (INTC) [+5.73%]: Intel is benefiting from the broad tech recovery and rumors that Apple is considering using its foundry services to manufacture custom chips. The company also recently secured strategic investments from Nvidia and SoftBank
This article was written by Greg Michalowski at investinglive.com.