"The S&P 500 logged its fourth-in-a-row losing day Tuesday - but it seems the losing streak is over. On Wednesday the Vanguard S&P 500 ETF ( NYSEMKT: VOO) opened modestly higher, and it continues to gain, currently up 0.2%. A change in sentiment on AI stocks may be helping. Nvidia ( Nasdaq: NVDA) is expected to report earnings after close of trading today, and options trading activity shows "calls" - bets that the stock will outperform - outnumbering "puts" - bets that the stock will fall, by a 1.8-to-1 ratio this morning. Moreover, Nvidia's own slide seems to have ceased, and the stock is up 2% this morning."
"Meanwhile on Wall Street, analyst Chris Senyek of Wolfe Research was quoted telling CNBC: "We continue to believe that concerns over an AI bubble bursting are overblown... at least for now.""
"Home improvement retailer Lowe's ( NYSE: LOW) is another S&P 500 component company reporting today, and the company is making investors happy with a report of $3.06 per share earned in Q3 - also nine cents ahead of forecasts. Sales of $20.8 billion missed forecasts by only about $40 million, and investors appear willing to forgive the miss seeing as Lowe's is forecasting a sales beat by the end of this year: $86 billion instead of Wall Street's expected $85.6 billion. Lowe's stock is up more than 3% in response."
The S&P 500 ended a four-day losing streak as the Vanguard S&P 500 ETF (VOO) opened modestly higher, rising about 0.2%. Sentiment toward AI stocks improved, with Nvidia expected to report earnings after the close and options activity showing calls outnumbering puts by a 1.8-to-1 ratio. Nvidia's slide paused and the stock rose about 2%. Some analysts view concerns about an AI bubble as overblown for now. Williams-Sonoma beat Q3 estimates with $1.96 EPS on $1.9 billion sales and maintained 2025 sales guidance, while Lowe's beat EPS, narrowly missed sales, guided to $86 billion, and shares rose over 3%.
Read at 24/7 Wall St.
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