Investing.com — Wall Street is seen trading in a mixed fashion Monday, as investors await the release of earnings from Nvidia, one of the main beneficiaries of this year’s artificial intelligence craze. Bitcoin continued to be in demand, while the Japanese yen slipped lower on increased uncertainty over when the Bank of Japan will next hike interest rates.
1. Nvidia’s Q3 earnings in focus
The main corporate release this week comes from chipmaker Nvidia (NASDAQ:), a bellwether for this year’s AI craze, which is due to report third quarter earnings after the close on Wednesday.
The results could well be a gauge for investors’ appetite for tech stocks, the AI trade and sentiment for equities broadly, after a post-election market rally stalled.
Nvidia’s chips are seen as the gold standard in the AI-space and its shares have risen around 200% this year, overtaking Apple (NASDAQ:) to become the world’s largest company by market capitalization.
Analysts see Nvidia increasing third-quarter revenue by more than 80%, to $32.9 billion, but The Information reported on Sunday that the company’s new Blackwell AI chip is said to be having issues with overheating when connected in customized server racks.
The company is working with suppliers to change the design of the racks to alleviate the overheating issue. The AI chip giant has already delayed Blackwell by a quarter due to design flaws that have since been fixed.
2. Futures mixed; key corporate results in spotlight
US stock futures traded in a mixed fashion Monday, at the start of a week that includes several major corporate earnings as well as comments from a series of Fed officials.
By 03:50 ET (08:50 GMT), the contract was down 135 points, or 0.3%, while gained 8 points, or 0.1%, and rose by 145 points, or 0.7%.
The three main indices retreated last week, falling back from the recent highs seen in the wake of Donald Trump’s election win after Fed chief Jerome Powell warned that the US central bank was not “in a hurry” to cut interest rates further.
Nvidia’s earnings will be in the spotlight this week [see above], but there are also results due from the likes of Walmart (NYSE:) and Lowe’s Companies (NYSE:), which will give fresh insights into the strength of consumer spending.
So far, with 93% of companies reporting results, three-quarters of them have reported a positive EPS surprise and 61% have reported a positive revenue surprise, according to data from FactSet.
Investors will also get…
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