Stock Market Today, May 20: Nvidia Climbs Ahead of Earnings as Investors Await AI Guidance
As of 1:10 p.m. ET, the S&P 500 (SNPINDEX:^GSPC) rose 0.75% to 7,408.61, the Nasdaq Composite (NASDAQINDEX:^IXIC) gained 1.10% to 26,154.82, and the Dow Jones Industrial Average (DJINDEX: ^DJI) advanced 0.97% to 49,840.59 as easing yields and oil prices fueled a rebound toward recent highs.
Market movers
Nvidia (NASDAQ:NVDA) climbed ahead of its closely watched after-hours earnings report, helping lift semiconductor peers, while Cava Group (NYSE:CAVA) surged on a strong quarter; in software, Salesforce (NYSE:CRM) and Marvell Technology (NASDAQ:MRVL) advanced as sentiment toward AI and SaaS steadied.
What this means for investors
Nvidia shares have jumped about 15% since its last quarterly report in late February. Expectations are high for its update this evening after reporting 73% revenue year-over-year revenue growth to $68 billion last quarter. Guidance is for about $78 billion in fiscal 2027 Q1, and expectations are that it will match or beat that guidance.
More closely watched will be Nvidia’s estimate for Q2 revenue along with gross margins as input costs are pressured by soaring memory chip prices. Strong revenue guidance will help boost investor sentiment that the AI rally can continue despite rumblings of a bubble forming.
The tone from CEO Jensen Huang will also be closely monitored on the conference call. Huang has been incredibly bullish on the AI infrastructure buildout and the transition to “agentic AI," referring to a more advanced form of AI that goes beyond simple chatbot functionality to accomplish actual tasks.
Retreating Treasury yields and softer crude prices are also easing pressure on the markets today.
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Howard Smith has positions in Nvidia and Salesforce. The Motley Fool has positions in and recommends Cava Group, Marvell Technology, Nvidia, and Salesforce. The Motley Fool has a disclosure policy.
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