Stocks opened lower Tuesday but found their way into positive territory by lunchtime following some mid-morning economic data. Still, today's price action was muted as investors look ahead to tomorrow's quarterly earnings report from Nvidia (NVDA, +1.5%), which has become a key event on Wall Street.
Indeed, Nvidia earnings will be released after Wednesday's close and Wall Street is anxiously awaiting the outcome. "NVDA results have been a key driver of the broader market short term, and the stock has added roughly 5 percentage points to S&P 500 returns for the year to date," says BofA Securities.
