S&P500 and Nasdaq 100: Tech Stocks Lift US Indices as Nvidia Earnings Take Center Stage

Stocks Rebound as Nvidia Strengthens Ahead of Earnings

U.S. equities advanced on Wednesday, breaking a multiday pullback led by technology. The S&P 500 gained 0.5%, the Nasdaq Composite climbed 0.8%, and the Dow added 54 points. Traders refocused on Nvidia’s upcoming earnings release after the bell, with expectations for another strong quarter driven by AI demand.

Alphabet helped lift broader sentiment, rising about 3% and setting a fresh all-time high. Its move reflected enthusiasm for its newly introduced Gemini 3 AI platform. The broader tech space recovered as investors reassessed recent profit-taking that pressured indexes earlier in the week.

How Did Key Sectors Perform?

Sector performance was mixed. Technology led with a 0.93% gain, supported by optimism around AI-linked names. Communication services added 0.72%, while financials and materials rose 0.42% and 0.46%, respectively. Energy lagged, falling 1.3% as crude markets cooled. Utilities, real estate, and consumer staples also finished lower.

Industrial stocks saw moderate strength, rising 0.36%, while consumer discretionary held near flat levels. The split tone reflected traders’ focus on upcoming catalysts rather than strong directional conviction across sectors.

Which Stocks Stood Out?

AI-exposed names dominated the leaderboard. Semiconductor suppliers such as Applied Materials, Broadcom, KLA, and Lam Research posted gains between 3.8% and 4.4%. GE Vernova surged more than 7%, while Constellation Energy advanced over 5%.

On the downside, Eversource dropped more than 12%, leading decliners. DoorDash, Aptiv, Paramount Skydance, and Archer-Daniels-Midland fell between 3% and 5%. Netflix and Dollar General also retreated, reflecting selective pressure across consumer-related stocks.

What Is Driving Nvidia Sentiment?

Nvidia climbed roughly 3% ahead of its quarterly results. Analysts expect the company to exceed earnings estimates and provide strong guidance as AI data-center investment accelerates. Several managers noted that Nvidia’s recent pullback could help temper expectations and improve the odds of a constructive market response.

Still, investors continue weighing the durability of capital spending across hyperscalers. Firms have committed massive sums toward expanding AI infrastructure, raising questions on timelines for monetization. Market participants emphasized this is not doubt about long-term demand, but rather a focus on when revenue growth will match investment levels.

What Should Traders Watch Next?

After recent weakness, Wednesday’s rebound signals improving near-term sentiment, but attention now shifts to Nvidia’s results and guidance. A strong report could stabilize the tech complex and help indexes recover recent losses, while any signs of cooling momentum may pressure valuations that have run ahead of earnings.

With Bitcoin’s brief dip below $90,000 and gold firming from a one-week low, cross-asset moves also suggest traders remain sensitive to shifts in risk appetite.

For now, the near-term outlook leans cautiously bullish, contingent on Nvidia delivering the confirmation investors expect.

More Information in our Economic Calendar.