FX.co ★ S&P 500 Close at Record Ahead of Nvidia Earnings

US stocks closed higher on Wednesday as investors anticipated Nvidia's highly anticipated earnings announcement, considered a crucial barometer for the ongoing AI-driven market rally. The S&P 500 and Nasdaq each advanced by 0.2%, with the S&P 500 marking a new record high, while the Dow Jones Industrial Average gained 146 points. Nvidia's stock remained stable, even as options implied a potential market value swing of $260 billion. The semiconductor company is projected to report a 49% increase in earnings and a 53% rise in revenue year-over-year, though it has expressed concerns about an $8 billion impact from US trade restrictions on China. In other developments, MongoDB surged by 38% and Okta rose by 1.6%, both surpassing expectations, fueled by robust AI-related demand that boosted sentiment prior to Nvidia's earnings results. With a market capitalization of $4 trillion and holding the largest weighting in the S&P 500, Nvidia's financial performance is regarded as a crucial juncture for the broader bullish market trend. Additionally, Cracker Barrel shares jumped 8% after announcing it would abandon its new logo following backlash from customers and criticism by President Trump.