IXIC: Nasdaq Composite Ticks Up 0.2% to New Record Ahead of Nvidia Earnings

Investors gear up for earnings blowout when chipmaking giant releases quarterly figures after the bell.

• The Nasdaq Composite IXIC took off to a new all-time high Tuesday as investors loaded up on tech shares, giving special treatment to chip giant Nvidia NVDA. The heavyweight AI player is bound to release its earnings report after the bell on Wednesday and that’s where all the action will be in after-hours trading.
• Meanwhile, the tech-heavy Nasdaq advanced 0.2% to clock out at the never-before-seen 16,832.62 level. For the year, the Wall Street benchmark boasts gains of 14% largely due to the powerful rally in the artificial intelligence corner. Thematic investing is all about building up the foundational layer of AI — infrastructure and data centers — and every one of the big tech companies wants a piece of the puzzle.
• In other areas of traditional stock markets, the S&P 500 also notched a record high. The broad-based equity average added 0.25% on Tuesday, bringing its year-to-date increase to just over 12%. And the 30-stock Dow Jones Industrial Average picked up 0.17% on the day. Heavy mood over at the banking sector weighed on sentiment after JPMorgan’s JPM Jamie Dimon said his retirement date is approaching.