Stock Market Today: Nvidia Earnings Take Spotlight After Russia Tensions

• US indexes ended higher Tuesday, recovering after geopolitical tensions triggered a morning sell-off.
• Attention is turning back toward Nvidia ahead of its third-quarter earnings.
• Wall Street is largely bullish on the chipmaker, and expects a 83% year-over-year revenue gain.

US stocks were mixed on Tuesday after a sell-off earlier in the day sparked by fears of escalating tensions between Russia and Ukaine.

The Nasdaq and S&P 500 were able to recover to end higher, though the Dow Jones Industrial Average ended more than 100 points lower. Russia’s President Vladimir Putin lowered the threshold for when Russia can use atomic weapons, responding to Ukraine’s strike inside of Russian territory using US-made long-range missiles.

Investors early in the day rushed into defensive assets, sending gold and bond prices higher before the safety trade waned as the day wore on.

Investors were able to look past the rising geopolitical tensions as they geared up for Nvidia to report earnings after the market close on Wednesday.

Wall Street remains bullish on Nvidia stock ahead of the report, and investors will be eagerly monitoring the call for discussion of the company’s next-generation Blackwell GPU and the demand from the biggest firms working on artificial intelligence technology.

Third-quarter revenue is expected to reach $33 billion, which would mark an 83% year-over-year gain.

“If the generative AI chipmaker beats forecasts, and once again issues positive forward guidance, then this could provide a base for another surge in tech stocks,” Trade Nation senior market analyst David Morrison said Tuesday morning. “But any slither of disappointment could result in a sharp sell-off as investors rush to cut their long side exposure. Investors are already getting antsy following reports yesterday that NVIDIA’s new Blackwell chip has been overheating.”

The stock rose almost 5% on Tuesday to close at $147.01.

Here’s where US indexes stood at the 4:00 p.m. closing bell on Tuesday:

Here’s what else happened today:

In commodities, bonds, and crypto:

• West Texas Intermediate crude oil increased by 0.67% to $69.59 a barrel. Brent crude, the international benchmark, slid by 0.06% to $73.37 a barrel.
• Gold rose 0.81% to $2,635.7 an ounce.
• The 10-year Treasury yield fell two basis points to 4.392%.
• Bitcoin rose slightly to $92.050. It briefly topped a fresh high above $93,500.