Live Updates: Nasdaq Composite Falls After NVDA Earnings
On the heels of Nvidia’s (Nasdaq: NVDA) Q4 earnings beat, technology stocks have turned negative, including a nearly 1% drop in the Nasdaq Composite in a tariff-related sell-off. Despite its earnings blowout and rosy outlook, Nvidia shares are falling 3% as of mid-morning trading on tariff-related fears, pressuring the Nasdaq Composite while the Dow Jones […] The post Live Updates: Nasdaq Composite Falls After NVDA Earnings appeared first on 24/7 Wall St..
On the heels of Nvidia’s (Nasdaq: NVDA) Q4 earnings beat, technology stocks have turned negative, including a nearly 1% drop in the Nasdaq Composite in a tariff-related sell-off. Despite its earnings blowout and rosy outlook, Nvidia shares are falling 3% as of mid-morning trading on tariff-related fears, pressuring the Nasdaq Composite while the Dow Jones Industrial Average and S&P 500 are seeing green.
Nvidia could be facing a potential 25% tariff on its chip sets. President Trump has made the tariffs official, with an early March start date for Mexico and Canada and a 10% levy on China. He has also placed a target on the EU with a potential 25% tariff on the 27-country bloc.
- Wall Street is responding to Nvidia’s strong quarter, with New Street Research analyst Antoine Chkaiban reportedly predicting that AI chip demand will catapult the company’s EPS to the $6 level.
- According to UBS analysts, “NVIDIA results reinforce AI growth opportunity.”
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 379.11 (+0.87%)
Nasdaq Composite: Down 58.24 (-0.29%)
S&P 500: Up 13.84 (+0.22%)
Key Points
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Nvidia stock is falling on the heels of its Q4 report despite beating on both the top and bottom lines.
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The major indices are mixed, with the Nasdaq Composite under pressure.
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Snowflake stock is soaring on solid quarterly results and an aggressive AI push.
Market Movers
McDonald’s (NYSE: MCD) stock is up 1.5%. The stock is getting rewarded after the company announced that surcharges on its eggs are out of the question and that it would even introduce a value $1 McMuffin on its mobile app. MCD pays a dividend yield of 2.3% compared with the S&P 500’s average dividend yield of 1.27%.
Tesla (Nasdaq: TSLA) is extending its recent declines by another 1% amid a sell-off in the Magnificent 7 stocks. Apple (Nasdaq: AAPL) is getting caught in the selling pressure, as is Meta Platforms (Nasdaq: META). Amazon (Nasdaq: AMZN) is an outlier in the group and is making gains after introducing its very first chip for the quantum computing era.
Snowflake (NYSE: SNOW) is extending its gains that started after yesterday’s earnings print, advancing 9% on the day. The cloud-based storage company is soaring on its aggressive AI push and Wall Street’s bullish reaction. BTIG analysts have a “buy” rating on the stock with a $220 price target, describing Snowflake’s quarter as “a very good report.”
The post Live Updates: Nasdaq Composite Falls After NVDA Earnings appeared first on 24/7 Wall St..
