Investing.com Update

The S&P 500 closed higher on Tuesday, buoyed by a tech rally led by Nvidia, despite earlier concerns regarding escalating Russia-Ukraine tensions.

At 4:00 p.m. ET (2100 GMT):
– The Dow Jones Industrial Average fell by 120 points (0.3%).
– The S&P 500 index gained 0.4%.
– The NASDAQ Composite increased by 1%.

Nvidia Leads Tech Higher Ahead of Earnings

NVIDIA (NASDAQ: NVDA), the world’s most valuable listed company, saw its stock rise over 4% a day before its quarterly earnings report.
Nvidia is considered a bellwether for AI demand, with anticipated earnings setting the tone for tech stocks. The company’s shares have nearly tripled in value this year due to strong demand from the growth in the AI sector, having developed the most advanced AI chips available.

Additionally, server maker Super Micro Computer (NASDAQ: SMCI) surged over 29% after appointing a new auditor and setting a timeline for its financial reports.

Walmart Lifts Forecasts; Lowe's Falters on Soft Guidance

Walmart (NYSE: WMT) rose by 3% after raising its annual sales and profit forecast for the third consecutive time. Increased grocery and online sales suggest Walmart may be gaining market share ahead of the holiday season.
Truist Securities noted Walmart's focus on price, store standards, and customer convenience has been key to their results.

In contrast, Lowe's Companies (NYSE: LOW) saw its stock fall over 4% due to a forecast predicting sales decline in 2024, overshadowing better-than-expected Q3 results.

Putin Alters Nuclear Strike Threshold

Russian President Vladimir Putin issued a warning to the U.S., lowering the threshold for a nuclear strike. This decision follows reports of the Biden administration allowing Ukraine to fire American missiles into Russia.
According to the new doctrine, Russia might consider using nuclear weapons if they or Belarus face an aggression threatening their sovereignty or territorial integrity, marking a shift from previous guidelines that limited responses to nuclear or existential threats.

*(Peter Nurse, Ambar Warrick contributed to this article.)