Next week’s earnings report from chipmaker Nvidia could prove a gut check for one of the market’s hottest names, and for the artificial intelligence fever that has helped power gains for U.S. stocks in recent months. Excitement over the business potential of AI has boosted Nvidia’s shares by more than 46% since Jan. 1. Its $570 billion increase in market capitalization is more than triple the market value of Intel.
U.S. retailer Walmart Inc is expected to strike a cautious tone for 2024 when it reports results on Tuesday. Despite what was likely a bumper holiday season for Walmart, inflation continues to burden many Americans facing a high cost of living. Walmart is expected to post a roughly $11 billion rise in sales for the quarter spanning Nov. 1 to Jan. 31, or up 4%, according to LSEG estimates.
