Big tech dragged the stock market away from its all-time highs, with Wall Street awaiting Nvidia Corp.’s earnings Wednesday for confirmation it can meet the sky-high expectations set by the artificial-intelligence boom.
While the ongoing earnings season has so far reaffirmed what bulls were expecting all along — Corporate America is holding up well — the reporting period has been mixed for the “Magnificent Seven.” Ahead of the giant chipmaker’s numbers, some traders decided to lock in profits — with the market also weighing a report that Microsoft Corp. is developing a networking card as an alternative to the one supplied by Nvidia.
