Wall St set for higher open on Nvidia earnings optimism
-Wall Street was set to open higher on Tuesday as optimism around Nvidia 's keenly awaited earnings report kept megacap growth stocks on a strong footing, while a pullback in yields on longer-dated government bonds also provided some support.
Shares of Nvidia climbed 1.9% in premarket trading on Tuesday after adding nearly 9% in the previous session and closing about 2% short of their all-time high of $480.88.Investors will be keen to see if Nvidia's results and forecast can match heightened market expectations following a blockbuster report last quarter that fueled a blistering rally in tech stocks amid the frenzy around artificial intelligence.
"If they really came out and said the demand for AI is less than expected, the entire market is going to be impacted." The recent selloff in bonds was driven by evidence of a strong U.S. economy, which dampened hopes of the Federal Reserve easing monetary policy anytime soon.
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