Stocks were relatively flat midday on Tuesday as investors closely watched for Nvidia’s (NVDA) earnings report coming out on Wednesday. While Trip.com (TCOM) saw gains, Cava (CAVA) experienced a decline in the stock market.
The Dow Jones Industrial Average dipped slightly after reaching a record high on Monday. Similarly, the Nasdaq composite and the S&P 500 also experienced marginal losses. In the small-cap sector, the Russell 2000 saw a larger decline.
Bond markets saw a slight increase in the 10-year Treasury yield, while U.S. crude oil prices dropped. The latest Home Price Index indicated continued growth in the housing market, with prices up 6.5% in major U.S. metropolitan areas.
One of the notable movers in the stock market was American Woodmark (AMWD), which saw a significant drop in share price after missing earnings and sales projections. Meanwhile, Trip.com saw gains following a successful second-quarter earnings report.
Investors are eagerly anticipating Nvidia’s earnings report, with expectations running high for the company’s performance. Shares of Cava Group fell after a significant offering and profit-taking by executives following strong earnings results.
Eli Lilly (LLY) saw gains on news of a new form of its weight-loss drug, while Hims & Hers (HIMS) declined as a result. Super Micro Computer (SMCI) trimmed losses after a short sell report, and Costco Wholesale (COST) moved closer to its buy point.
Overall, the stock market remains poised for Nvidia’s earnings report as investors continue to assess various market developments and earnings results.
