Nasdaq 100: Nvidia Earnings in Focus as Apple Gains Ahead of iPhone Launch

Nasdaq Edges Higher as Traders Focus on Fed Risks and Nvidia Earnings

The Nasdaq Composite and Nasdaq 100 traded slightly higher by late afternoon Tuesday, holding near recent highs despite political tension surrounding the Federal Reserve and investor caution ahead of Nvidia’s earnings report.

The Nasdaq Composite rose about 0.1%, while the Nasdaq 100 hovered flat, reflecting balanced trading across mega-cap tech. Broader U.S. markets remained subdued as traders weighed Fed uncertainty and incoming economic data.

How Are Fed Concerns Impacting Nasdaq Indices?

President Trump’s removal of Fed Governor Lisa Cook continued to unsettle investors, raising questions over central bank independence. While legal challenges are likely, the decision brought added volatility to Treasury markets.

The U.S. 10-year yield eased slightly to 4.25% after earlier pressure, providing modest relief to growth stocks that are sensitive to borrowing costs. Traders are still pricing in a 25-basis-point rate cut at the next meeting, supported by Fed Chair Powell’s dovish commentary and softer labor data.

Which Nasdaq Stocks Are Moving the Most Today?

Tech leadership was mixed, with Nvidia trading cautiously ahead of its earnings release tomorrow, a key catalyst for AI-driven momentum across the index.

Apple gained 0.3% as investors looked ahead to its September product launch event. Semtech surged 15% after delivering stronger-than-expected earnings, standing out as one of the day’s biggest Nasdaq winners.

Healthcare also contributed to index gains. Eli Lilly rose over 4% after new data showed its diabetes drug reduced patient body weight by 10.5%, boosting optimism for its obesity-treatment pipeline.

Meanwhile, EchoStar soared 75% after AT&T announced plans to purchase $23 billion in spectrum licenses, making it one of the session’s most heavily traded Nasdaq names.

Which Sectors Are Supporting or Dragging the Nasdaq?

Rate-sensitive sectors struggled under yield pressure earlier in the session. Real Estate and Consumer Staples slipped, while Utilities edged lower. By contrast, Health Care and select Tech names held up well, cushioning index losses.

 

Semiconductors remained a mixed pocket, with Advanced Micro Devices gaining 1.6% after an analyst upgrade, while Nvidia’s muted action kept traders cautious.

What’s the Nasdaq Outlook Into the Close?

With the market still open, traders are bracing for Nvidia’s earnings release tomorrow and upcoming inflation data later in the week. Both will serve as key tests for the Nasdaq, which is holding just below recent highs.

Bond yields remain the swing factor, while Fed credibility questions add another layer of risk.

A strong print from Nvidia could fuel further upside for tech-heavy indices, but disappointment may trigger a sharp pullback given stretched AI valuations.

More Information in our Economic Calendar.