US stocks gain with Nvidia in spotlight

Early on Tuesday, the US stock markets were expected to begin higher thanks to expectations that chipmaker Nvidia would increase its gains ahead of its earnings announcement on Wednesday. Following reaching their greatest level in over 16 years, benchmark Treasury yields decreased.

Futures for the Dow Jones Industrial Average increased by 62 points, or 0.2%. Nasdaq 100 futures increased by 0.5%, while S&P 500 futures increased by 0.3%.

A renewed sense of optimism surrounding Nvidia’s impending earnings helped the Nasdaq lead markets higher. After closing the previous day up 8.5%, Nvidia shares were up 1.5% in early trade on Tuesday.

The risks surrounding Nvidia’s quarterly reports appear to be asymmetrical, as a miss might result in massive disappointment and, as a result, a significant drop in the price. Nvidia is one of the main drivers behind the latest rally on Wall Street.

Early trading saw the 10-year Treasury yield at 4.316%, a tiny decline from Monday’s high of its highest level since November 2007.