Wall Street expected fourth-quarter revenue at Nvidia to jump nearly 240% from a year earlier, shares of Palo Alto Networks sink after the cybersecurity company cuts its revenue outlook, and SolarEdge tumbles following a 65% fourth-quarter revenue drop.
The Dow Jones Industrial Average's swap of Walgreens for Amazon will help the index better reflect the current US economy, according to a senior index analyst at S&P Dow Jones Indices.
Wall Street dipped on Wednesday as investors braced for chip designer Nvidia's high-stakes earnings report that could hinder this year's AI euphoria if results are not stellar, and awaited minutes from the Federal Reserve's latest policy meeting. Nvidia shed 1.2% after a more than 4% decline in the prior session ahead of the semiconductor firm's quarterly earnings, expected after markets close on Wednesday. But analysts have warned that Nvidia's lofty valuation could make it vulnerable to sharp declines if it delivers anything short of a blowout report, and also spark a broader selloff among other technology firms that have benefited from bets on AI.