Investopedia Markets News (all except PF)

Major U.S. equities indexes were mixed at midday Wednesday ahead of highly anticipated earnings from Nvidia (NVDA) due after the closing bell. The S&P 500 and Nasdaq gained, while the Dow fell.

Shares of the AI chipmaker climbed ahead of what is being widely viewed as the biggest event of this earnings season.

Lowe's (LOW) stock surged after the home improvement retailer reported a better quarterly profit than analysts had expected.

Alphabet (GOOG, GOOGL) shares continued their winning streak that began Monday when Warren Buffett’s Berkshire Hathaway (BRK.A, BRK.B) revealed a stake in the owner of Google and YouTube.

Shares of Constellation Energy (CEG) climbed after the power company received approval for an up to $1 billion loan from the Department of Energy to restart a nuclear reactor at Pennsylvania’s Three Mile Island.

Eversource Energy (ES) shares tumbled after a Connecticut regulator blocked the utility’s plan to sell its Aquarion Water subsidiary to a newly created quasi-public entity for $2.4 billion.

Shares of Plug Power (PLUG) sank after the maker of hydrogen fuel cells said it would sell $375 million in notes that investors could convert into the firm’s stock.

Shares of Valero Energy (VLO), APA (APA), and others in the energy sector declined along with the price of crude, which slid amid concerns about oversupply.

Gold futures rose. The yield on the 10-year Treasury note edged lower. The U.S. dollar gained on the euro, pound, and yen. Most major cryptocurrencies traded in the red. 

• Investors have lately been a bit sour on tech stocks, but not today: The tech-focused Nasdaq is in the green, and shares of Nvidia are more than 2% higher ahead of the highly anticipated release of the chip giant's earnings report.
• Nvidia stock has slumped in recent weeks but is still up nearly 40% since the start of the year, substantially outpacing the S&P 500 and making it the second-best performer among Magnificent 7 stocks.

Nvidia shares are showing signs of life on a critical day for financial markets.

The stock was up 2% recently ahead of the release of Nvidia's (NVDA) quarterly results after the closing bell, the most highly anticipated event of the earnings reporting season. Coming into today's session, the stock had lost nearly 15% of its value since hitting a record high in late October. But it's still up nearly 40% for the year, roughly three times the gain of the S&P 500 and trailing only Google parent Alphabet (GOOG, GOOGL) in the Magnificent 7.

Hyperbolizing about the importance of Nvidia's quarterly results has become a bit of investor vogue lately. Will they determine the future of the company—currently the world's most-valuable—all humanity, or just the AI trade? Whatever the case, the numbers will be closely watched and the insta-analysis plentiful.

There aren't many stocks out there that capture broader attention in the way Nvidia does. That's not just because it's been a powerful gainer, but also because of its substantial weight in the benchmark S&P 500, which means its moves affect the legions whose holdings lean toward low-cost passive investments.

Stocks, and particularly tech stocks, have been under pressure lately, as investors have begun to look for cracks in the argument for ever-higher investment in AI technology and offered up some skepticism about the arguably circular nature of investment in the industry.

"I think people are really gonna need (CEO Jensen Huang) to explain this circular deal mentality, because I don't think it's stopping anytime soon," said Ben Reitzes, Head of Tech Research at Melius Research, in an interview on CNBC Wednesday morning. Reitzes said investors will want to hear more from Huang on his methodology, the kinds of return on investment Nvidia expects and what he sees in AI usage that gives him confidence investments are good ones.

Futures markets indicate that Nvidia's shares could move dramatically in the days after its report, which—in the near term, at least—could determine the path ahead for stocks. LPL Financial on Wednesday said traders anticipate a move of near 7% in either direction, which would represent its biggest reaction since the fourth quarter of last year.

Some investors have already moved away from the high-powered stock in various forms, making notable portfolio changes before Nvidia's numbers landed. Softbank recently sold its Nvidia stake, though it said the move was intended to fund investments in OpenAI; Peter Thiel's hedge fund also sold.

Today, stock investors are seeing some green in their screens after several days of red. The S&P 500, which has lost ground the past four sessions, was up slightly recently. The tech-focused Nasdaq 100 also ticked higher, while the SOX index of semiconductor stocks gained more than 1%. (Here's our live coverage of today's trading.)

The winter is generally seen as an upbeat season for markets, but a disappointing report or outlook from Nvidia could mean this year is different.

• Lowe's shares rose Wednesday after the home improvement retailer's third-quarter profits topped analysts' estimates, a day after rival Home Depot's profits fell short.
  
• Lowe's CEO Marvin Ellison said comparable sales have been solid to start the current quarter, which JPMorgan analysts said was a notable comment, given how cautious Home Depot executives were yesterday.

Lowe's (LOW) shares surged Wednesday after the home improvement retailer reported profits that topped analysts' expectations, just a day after rival Home Depot's (HD) profits fell short.

Lowe's stock was up over 5% in recent trading, making it one of the best-performing stocks in the S&P 500 Wednesday morning. (Read our daily markets coverage here.) 

The retail giant posted adjusted earnings of $3.06 per share in the third quarter, up from $2.89 the same time last year and well above the analyst consensus compiled by Visible Alpha. Revenue was roughly in line with estimates at $20.81 billion, while comparable sales grew slower than expected at 0.4%.

Lowe's said a jump in sales online and to professional contractors helped drive the results, along with double-digit growth in "home services," in which customers can call on professionals in the company's network to help with tasks such as installing appliances or flooring.

The results from Lowe's, along with rival Home Depot, could reflect broader shifts in the U.S. housing market, along with demand for home improvement supplies and services.

Lowe's CEO Marvin Ellison also said that the current quarter has started with positive comparable sales growth, which he said is notable given Lowe's saw strong sales activity this time last year as hurricanes drove demand.

Lowe's lifted its full-year revenue forecast to $86 billion, up from a range of $84.5 billion to $85.5 billion previously and above the analyst consensus. However, the retailer said it sees adjusted EPS coming in at the lower end of its range, at $12.25 compared to its previous projection of $12.20 to $12.45, citing "ongoing uncertainty in the macroeconomic environment." The company said it now anticipates roughly flat comparable sales, compared to flat to 1% growth previously.

JPMorgan analysts wrote following Lowe's report that Ellison's comments about current-quarter demand are particularly notable considering how cautious Home Depot executives were a day earlier. When rival Home Depot reported earnings yesterday, it pointed to a drop in storm-driven demand and a sluggish housing market for its weaker-than-expected earnings. Home Depot executives also said that homeowners appear to be hiring contractors for fewer projects, and noted that some consumers may be feeling "some fatigue in taking on bigger projects."

Despite Wednesday's gains, Lowe's shares have lost about 7% of their value since the start of this year. Home Depot's stock is down close to 15% for 2025.

• Wall Street is more anxious than it's been since April by some measures, with concerns about an AI bubble encouraging caution heading into Nvidia's quarterly earnings report.
• Individual investor sentiment was at its most negative since September last week, and nearly half of fund managers consider an AI bubble the biggest risk to the stock market.

Nvidia’s quarterly results are almost here, and anxiety is running high.

The Cboe Volatility Index (VIX), known as Wall Street's Fear Index, on Tuesday ended the day just below 25, near its highest level since May, when the market was cooling off from April’s tariff tantrum. The index has risen substantially in the past week after coasting along in the mid-teens throughout the second half of the year. (It was recently a bit below 24; a reading below 20 is generally considered calm.)

And CNN’s Fear & Greed Index, which tracks seven stock-market metrics to gauge the mood on Wall Street, yesterday fell to its lowest level since mid-April. Six of the seven index inputs were flashing “Extreme Fear” on Wednesday morning, with measures of momentum and market breadth having slumped in recent weeks.

Wall Street's mood can have as much of an impact on short-term stock performance as the health of the economy or developments with a specific business. Today investors are largely concerned with the quarterly earnings from Nvidia, due after the bell, which could substantially inform how people feel about stocks going forward.

Recent anxiety has centered on AI, with some investors worrying that tech giants are overspending on technology with uncertain commercial prospects. Others argue AI will transform nearly every industry, justifying tech’s massive investments and high stock valuations. 

The AI bubble debate has been playing out for some time, but it intensified this month. Forty-five percent of fund managers surveyed by Bank of America in November said an AI bubble was the biggest tail risk facing the market, up from 33% last month and just over 10% in September. More than half of those surveyed said AI was already in a bubble.

And bullish sentiment among retail investors last week fell to its lowest level since early September, according to the Association of American Individual Investors. Bearish sentiment jumped nearly 13 percentage points, the biggest week-over-week increase since February.

The stock market faces a critical test this afternoon when Nvidia (NVDA) reports earnings. The AI chip giant's quarterly report has become a must-watch event on Wall Street this year, with its results often treated as a proxy for AI demand and a major driver of the AI rally.

AI bubble concerns and some high-profile divestments have dragged down Nvidia's stock this month, but expectations are still high. Analysts predict the huge amounts of capital tech companies are pouring into data centers will underpin another strong quarter for the chipmaker.

News of the day for Nov. 19, 2025

Stock futures are pointing to a slightly higher open after four straight days of declines for the benchmark S&P 500; Investors are bracing for the latest quarterly earnings report from Nvidia, due after the closing bell Wednesday; Lowe's shares are surging after the home improvement giant reported solid earnings a day after rival Home Depot missed profit estimates; Target shares are lower after the retailer reported a larger drop in sales than analysts had forecast; and the Department of Energy is backing a loan to help Constellation Energy reopen the Three Mile Island nuclear power plant in Pennsylvania. Here's what you need to know today.

Stock futures are slightly higher as investors digest earnings reports from major retailers and prepare for the highly anticipated release of quarterly results from AI chipmaker Nvidia later today. Futures tied to the Dow Jones Industrial Average were up 0.1% recently, while those linked to the benchmark S&P 500 and the tech-heavy Nasdaq added 0.2% and 0.3%, respectively. The Dow and the S&P 500 have closed lower in each of the past four sessions, while the Nasdaq is riding a two-day losing streak as tech stocks have been under pressure. Bitcoin was at $91,500 recently, down from around $93,000 yesterday afternoon but up from an overnight low of near $90,000. Gold futures were up 1.3% at $4,120 an ounce, gaining ground for the first time in five days, while crude oil futures slipped 2.5% to $59.25 per barrel. The yield on the 10-year Treasury note, which affects borrowing costs on a wide range of loans, was little changed, around 4.11%.

Nvidia (NVDA), the chipmaker at the center of the AI boom, is scheduled to release its highly anticipated earnings report after the market closes this afternoon. The report comes as anxiety has built across the market in recent weeks that excitement around AI has created a bubble in the stock market. The chipmaker, which is the world's most valuable company by market capitalization, is expected to report rising revenue and profits. Nvidia shares are expected move significantly after the results are released, which is bound to have a big impact on the broader market and investors in general. The stock, which has lost nearly 15% of its value since hitting an all-time high in late October, was up 1.5% in recent premarket trading.

Shares of Lowe's Companies (LOW) are rising this morning after the retailer reported strong profits, a day after rival Home Depot's (HD) profits fell short of expectations. Lowe's reported third-quarter earnings per share of $3.06, up from $2.89 a year earlier and topping Wall Street estimates, while sales of $20.81 billion were roughly in line with expectations. The company also lifted its full-year sales outlook to $86 billion, up from $84.5 billion to $85.5 billion, and forecast adjusted earnings per share of $12.25, compared with a previous projection of $12.20 to $12.45. Lowe's credited the shift in guidance to "ongoing uncertainty in the macroeconomic environment," along with including the impact of recently-acquired Foundation Building Materials. Lowe's shares were up more than 5% in recent premarket trading.

Target (TGT) shares are losing ground after the retail giant reported revenue for the third quarter that came in below analysts' estimates. The company's revenue fell 1.5% from a year ago to $25.27 billion, while adjusted earnings per share were $1.78, topping the analyst consensus. Comparable store sales fell 3.8% for Target's retail locations, partially offset by a 2.4% gain in comparable sales online. Chief Operating Officer Michael Fiddelke, who is slated to take over as CEO in February, said the quarter was in line with Target's expectations "despite multiple challenges continuing to face our The retailer also narrowed its full-year adjusted EPS forecast to $7.00 to $8.00, versus $7.00 to $9.00 previously. Shares were down 3% in premarket trading.

Shares of Constellation Energy Corp. (CEG) are rising this morning, a day after the Department of Energy announced its support for a deal involving the power provider. The DOE said Tuesday that it is providing Constellation with a $1 billion loan to help the company restart activity at the Three Mile Island nuclear power facility in Pennsylvania. Last year, Constellation and tech giant Microsoft (MSFT) announced a deal that would see Constellation restart the Three Mile Island Unit 1 nuclear reactor and provide its power to run some of Microsoft's data centers in the area. Constellation shares were up more than 2% recently.

• Nvidia's size and influence on the broader market mean its results, due after Wednesday's closing bell, will likely affect a wide range of investors.
• In recent quarters, the chipmaker's quarterly update has tended to be a sell-the-news event in the short term, but Nvidia's stock has climbed in the months following the results.

A lot is at stake when the world's most valuable public company reports earnings Wednesday.

Nvidia's (NVDA) latest quarterly financial update, due after the closing bell, is being widely viewed as the biggest event of this earnings season. It could have wide-reaching implications for the AI trade and the broader stock market.

A strong showing from the chipmaker at the heart of the AI boom, viewed as a bellwether for the industry, could prove just what the market needs to revive confidence in the AI rally that boosted shares of Nvidia, its partners, and stocks across industries this year, pushing the major indexes to a series of record highs.

However, with expectations riding high and signs investors may be more difficult to impress amid persistent worries that elevated stock valuations have created an AI bubble, the stock could be primed for punishment if Nvidia's results are anything less than stellar.

Nvidia's quarterly results and outlook could sway sentiment surrounding a host of stocks tied to the AI boom. The chipmaker's outsized influence on major indexes and funds that track them also means a big move in its stock would affect a wide range of investors.

With the chipmaker facing a particularly challenging setup heading into Wednesday night's event, some investors are already bracing for enhanced volatility in its wake. Options pricing suggests traders see shares swinging roughly 7% in either direction by the end of the week.

Nvidia's outsized influence on major indexes—with a market capitalization of around $4.4 trillion, the stock accounts for about 8% of the S&P 500—also means a big move in its stock would impact the market broadly. And if Nvidia's shares soar or slump, those of its partners and others related to AI likely will too.

Even if you don’t hold Nvidia stock directly, a big share price move could affect you if you hold money in broad market index funds through brokerage accounts or tax-advantaged retirement accounts such as a 401(k) or IRA. Options pricing indicates traders expect the S&P 500 could move close to 2% in either direction by the end of the week, affecting a wide swath of investors and savers.

In recent quarters, the AI chipmaker's quarterly report has tended to be a sell-the-news event, with the stock finishing the week of its earning lower than its levels heading into the event in three of the last four quarters, despite strong results. However, Nvidia's stock has typically picked up in the months that followed.

The shares, which slid nearly 3% Tuesday amid broader losses, have still added over one-third of their value this year so far. Most Wall Street analysts surveyed by Visible Alpha believe the stock has room to rise.

• The firm has lowered its rating for the pair of tech giants after years of maintaining an "above-consensus" bullish stance.
• "Gen-AI is not the new cloud 1.0," Rothschild & Co Redburn's analyst said.

Some of the firms in the Magnificent 7 are starting to look a bit less magnificent.

Rothschild & Co Redburn on Tuesday downgraded both Amazon (AMZN) and Microsoft (MSFT) to neutral from buy rating, a measure of cold water on backers of the AI rally—and on the shares, which are broadly beloved by Wall Street analysts. "We no longer see a bull case," analyst Alex Haissl wrote. Shares of Microsoft and Amazon were down 2.7% and 4.4%, respectively, on a down day for markets.

The AI rally, which has driven broad market indexes to record highs, had already started to hit the skids. Between concerns about valuations, comparisons to the dotcom bubble, high-profile stock sales and earnings reports showing capital investments the payoff of which investors now see as less certain, enthusiasm has sputtered. Now, a sobering report on two of main characters in the AI-narrative lands right before Nvidia's (NVDA) earnings, expected tomorrow.

There's still plenty of bullish energy around AI, but investors are increasingly asking questions about whether the technology can lead to revenue that justifies the spending needed to build out the technology. That's a major reason for the pressure on tech stocks lately.

The gist of the 61-page report is that generative AI costs more to develop than it generates revenue. Though the new technology is often compared to cloud computing in its early days, Haissl said that the capital intensity needed to develop Gen-AI is nearly three times higher, which would require prices to "rise materially" to make financial sense. Meanwhile, he argues, the effect of AI business on big cloud-computing business growth—upon which Microsoft and Amazon both heavily rely—has been overstated.

There is "no credible path back to 'Cloud 1.0' economics," Haissl said. "The market, however, still prices in that outcome, implying returns we believe are no longer achievable—and this misalignment underpins our more cautious stance."

The analyst said Amazon's AWS is better-positioned than Microsoft's Azure in terms of capturing value, but in order for him to take a more positive view on the pair, they each would have to show evidence that they are producing higher growth over a sustained period of time and reducing build costs.

The downgrade on Amazon and Microsoft follows years of the shop maintaining an "above-consensus bullish view" on them. Price targets for the stocks are $250, and $500, respectively, not far off the levels where they closed Tuesday.

Take A Number: A Striking Figure In Economic News Today

• Workers filed 232,000 unemployment claims the week ending Oct. 18, the Department of Labor said.
  
• The number was unusual mainly because we weren't supposed to see it: the department said the release, the first after the government shutdown ended, was a mistake.
  

A week in late October, 232,000 people filed for unemployment, an uptick from 219,000 in late September and a remarkable figure for the simple fact that we know what it is.

That's according to the Department of Labor, which released the figure for unemployment claims made the week of Oct. 18 on a website tracking historical data Tuesday. It was the first new data posted about jobless claims since the end of the 43-day government shutdown last week.

The release took place at an unusual time: usually, the department releases that information on Thursdays. Tuesday's release was a mistake, the department said, according to Bloomberg.

The jobless claims figure sheds light on economic trends that were blacked out during the government shutdown last month.

The number of jobless claims was in line with recent months and didn't raise any red flags for economists about the health of the labor market.

Forecasters expect a separate, long-delayed employment report due to be released on Thursday from the Bureau of Labor Statistics to show that the economy added a modest number of jobs in September. Job growth has slowed dramatically since the summer due to uncertainty about tariffs and President Donald Trump's crackdown on immigration, among other factors.

"The overall picture is one of a labor market that is deteriorating but not falling into recession,"  Dean Baker, senior economist at the Center for Economic and Policy Research think tank, wrote in a commentary.

• Thiel Marco, the hedge fund run by PayPal and Palantir founder Peter Thiel, sold its entire stake in Nvidia last quarter, joining a list of investors who've cashed out of the AI darling in recent months.
• AI sentiment has deteriorated in recent weeks amid debates about elevated stock valuations, unorthodox deals between suppliers and customers, and doubts about the return on AI investments.

While everybody is watching for Nvidia’s earnings report tomorrow, a few big investors have already taken their chips off the table.

Thiel Macro, tech titan Peter Thiel’s hedge fund, revealed in a regulatory filing late last week that it sold its entire stake in the AI bellwether during the third quarter. The 537,742 shares the firm held heading into the quarter would have been worth approximately $100 million at the end of September.

While people may sell assets for all sorts of reasons, Thiel joins a growing list of heavy hitters whose Nvidia (NVDA) moves have lately raised eyebrows on Wall Street. Japanese investment firm SoftBank revealed last week that it sold its entire Nvidia stake in October, raising about $5.8 billion. (Executives said the position was liquidated to fund investments in another AI darling, OpenAI.)

Nvidia, which dominates the market for accelerated computing chips, has benefited more concretely from the AI investment boom than nearly any other U.S. company. An increasingly bearish outlook for its stock could spell trouble for more speculative AI bets. Some investors aren't waiting for its next earnings report to make that call.

Others have outright bet against Nvidia. Scion Asset Management, run by Michael Burry, the hedge fund manager of “The Big Short” fame, revealed earlier this month that it sold short Nvidia shares valued at $186 million in the third quarter. (Scion also had a short bet against Palantir (PLTR), the data analytics firm Thiel founded in 2003, valued at more than $900 million at the end of the quarter.)

Some on Wall Street are increasingly worried that the AI boom is actually an AI bubble. They point to elevated stock valuations, uncertainty about AI's revenue potential, and a series of circular deals between vendors and customers as causes for concern. AI bulls contend that valuations are modest compared with the Dotcom Bubble, to which the current investment cycle is frequently compared, and remind skeptics that AI investment is being driven by hugely profitable tech businesses.

The bubble debate has weighed on AI sentiment and stocks heading into one of Wall Street's most important recurring events: Nvidia's quarterly earnings report, scheduled for Wednesday afternoon.

High-flying AI stocks like Palantir, Applovin (APP), and Super Micro Computer (SMCI) are among the S&P 500's worst performers over the past week. Shares of Nvidia and Microsoft (MSFT) fell Tuesday even after they announced a cloud computing deal with startup Anthropic, the kind of tie-up that months ago might have been sure to boost socks.

Nvidia shares have fallen more than 10% since late October, when it became the first company in history to be worth $5 trillion. Nonetheless, Wall Street's expectations are still high heading into Wednesday's report, with analysts predicting big tech's aggressive investments will drive a solid quarter for the chipmaker.

• A home improvement retailer faced pressure on Tuesday, Nov. 18, 2025, as housing market headwinds weighed on earnings, while a medical device maker benefitted from strong demand.
  
• Home Depot reported lower-than-expected quarterly earnings and trimmed its full-year forecast, sending its shares lower.
  
• Medtronic shares advanced after the maker of medical devices surpassed quarterly estimates, highlighting strong demand across its end markets.
  

Shares of a major home improvement retailer lost ground after it missed quarterly profit forecasts, indicating homeowners are putting off remodeling projects amid economic uncertainty. Meanwhile, strong demand and procedure volumes helped drive a strong earnings report for a medical device company, and its shares advanced.

Major U.S. equities indexes dropped for the second straight day ahead of several high-profile earnings reports and the release of delayed jobs data due later this week. The S&P 500 dropped 0.8%, the Dow slid 1.1%, and the Nasdaq lost 1.2%. Click here for more reporting from Investopedia on Tuesday's market moves.

Home Depot (HD) stock tumbled 6% to log the worst performance in the S&P 500 after the home improvement retailer missed forecasts with its third-quarter earnings, noting that a lack of storms during the period weighed on its performance. The company also lowered its full-year profit forecast, citing persistent headwinds in the housing market and suggested that homeowners are pushing back remodeling projects amid broader economic uncertainty.

Concerns about high valuations for companies in the artificial intelligence space weighed on the tech sector. Shares of Western Digital (WDC), the hard disk drive maker that has drawn attention from investors given its opportunity to help satiate AI's massive data storage needs, fell 5.9% Tuesday. Shares of memory chipmaker Micron Technology (MU) lost 5.6%.

Amazon (AMZN) and Microsoft (MSFT) shares slipped 4.4% and 2.7%, respectively, as regulators in the European Union announced that they were launching investigations into cloud computing services offered by the two tech giants.

The move lower for Microsoft stock also came as the software giant announced a partnership with AI startup Anthropic. Chipmaker Nvidia (NVDA) announced a deal with Anthropic as well. Nvidia shares slid close to 3% Tuesday ahead of the chipmaker's highly anticipated earnings release Wednesday afternoon.

Medtronic (MDT) stock advanced about 5% after the medical device maker topped analysts' estimates with its fiscal second-quarter sales and adjusted profit. The manufacturer of pacemakers and other cardiovascular devices also lifted its full-year forecast for organic revenue growth, highlighting strong procedure volumes and a positive demand picture across its end markets.

Merck (MRK) announced positive results from a Phase 2 trial of a key heart treatment, and shares of the pharmaceutical company jumped nearly 4%. In the study, Merck's Winrevair met its primary endpoints in helping patients with certain heart conditions reduce pulmonary hypertension, or high blood pressure in the blood vessels that supply the lungs.