US stocks closed lower ahead of Nvidia earnings
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Major US stock indices are all closing lower led by the Dow Industrial Average which which fell -0.51%. Nvidia earnings are released after the close with expectations $5.65 on revenues of $24.69 billion (give or take – I see other estimates of $5.60 on $24.60 B).The company reported adjusted EPS of $1.09 on revenue of $7.19 billion in the same quarter last year. The stock price has moved up around 210% over the last year (from the same period last year).
The final numbers are showing:
- Dow Industrial Average average -201.97 points or -0.51% at 39671.03
- S&P index -14.40 points or -0.27% at 5307.02
- NASDAQ index -31.08 points or -0.18% at 16801.54
The small-cap Russell 2000 fell -16.64 points or -0.79% at 2081.70.
Snowflake just reported EPS lower than expectations by revenues higher:
- EPS $0.14 versus expected $0.18
- Revenues $0.83 billion versus expected $0.79 billion