Stocks ended the day with mixed results following another volatile trading session. President Trump’s comments on his tariff plans and the anticipation of Nvidia’s (NVDA) earnings report influenced market movements. The Nasdaq Composite (^IXIC) managed to end the day up around 0.3%, after briefly rising 1% earlier in the session. The tech-heavy index had been recovering from recent sharp losses. The S&P 500 (^GSPC) closed just above the flatline, while the Dow Jones Industrial Average (^DJI) fell approximately 0.4%.
Bitcoin Retreats, Dropping Below $85,000
Bitcoin (BTC-USD), which had been retreating from its post-election highs, dropped over 4% on Wednesday, closing below $85,000. This marked its lowest levels since November, adding to its recent decline.
Nvidia Earnings Beat Expectations, Shares Rise in After-Hours
After the market closed, Nvidia reported better-than-expected Q4 earnings. The chipmaker posted earnings per share (EPS) of $0.89 on revenue of $39.3 billion, surpassing analysts’ expectations of $0.84 per share on $38.25 billion in revenue. Nvidia’s shares rose about 4% in after-hours trading.
The company’s data center revenue exceeded expectations, hitting $35.6 billion, higher than the anticipated $34.09 billion. Nvidia also provided an optimistic forecast for the current quarter, expecting revenue of $43 billion, plus or minus 2%.
Despite a 2% drop in shares since the beginning of the year, Nvidia’s performance continues to be a key focus for investors. The company’s earnings report is closely watched, as Nvidia has a history of strong market reactions following earnings releases.
Tariff Plans Impact Market Sentiment
Earlier in the day, President Trump announced plans to impose tariffs on goods from the EU, including a 25% levy on autos. Additionally, tariffs on Mexico and Canada are set to take effect on April 2. These developments contributed to market uncertainty, as investors weighed the potential impact on global trade and the economy.
Nvidia’s earnings report became a focal point for investors, with many hoping that the positive results could help lift broader market sentiment. However, the company’s prospects remain under pressure from Trump’s tariff threats and ongoing export controls. Despite these challenges, Nvidia’s shares closed nearly 4% higher after a 2.8% drop on Tuesday.
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