Major stock indexes are trading higher, with the S&P 500 up about 0.34% and the Nasdaq up about 0.62%. Gold is lower, while Bitcoin is higher and oil is down. Market direction depends on expectations for Iran, including claims of pursuing diplomacy while remaining prepared to restart military action if nuclear talks fail, alongside warnings about expanding conflict beyond the region if attacked again. Investors are also focused on Nvidia earnings after the bell, with expectations for strong revenue growth and nearly doubling EPS driven by data center demand. Lowe’s reported EPS and revenue that beat estimates and showed modest comparable sales growth, but shares declined due to full-year adjusted EPS guidance that slightly misses consensus at the midpoint.
"The major indices are back in the green. At the moment, the S&P 500 is up 0.34%, or by 25 points, at 7,403. The SPDR S&P 500 ETF ( SPY | SPY Price Prediction) is up by 0.38%, or by $2.76 at $736.50. The Dow is up by 0.31%, or by 137 points. The Nasdaq is up by 0.62%, or by 181 points. Gold is down about $13.04 at $4,494. Bitcoin is up by $608 AT $77,375. And oil is down by about $2.10 at $102.06."
"Of course, a lot of what we're seeing is dependent on what happens next with Iran. At the moment, Vice President JD Vance says President Trump is pursuing a diplomatic deal with Iran but remains "locked and loaded" to restart the military campaign if nuclear talks collapse. And Iran promised to take the war beyond the region if they are attacked again. Markets will watch that closely."
"They'll also be waiting for Nvidia ( NASDAQ: NVDA) earnings after the bell. As we noted the other day, analysts are looking for revenue to range from $70 billion to $78 billion, or about 60% year over year growth. EPS is expected to nearly double. And is data center segment is expected to drive a good deal of growth, supported by heavy spending from hyperscale customers like Microsoft, Amazon, and Alphabet."
"Lowe's ( NYSE: LOW) just reported EPS of $3.03, which beat by six cents. Revenue of $23.1 billion, up 10.4% year over year, beat by $220 million. Comparable sales also climbed 0.6%, showing that demand for home improvement projects remains resilient despite ongoing pressure from high interest rates and cautious consumer spending. However, even with those impressive numbers, the LOW stock slipped. The reason comes down to guidance. Lowe's now expects adjusted diluted EPS for the year to range from $12.25 to $12.75. While that may still look healthy on the surface, the midpoint of the range falls slightly below Wall Street's consensus estimate of $12.59."
Read at 24/7 Wall St.
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