November 21, 2024November 21, 2024

Stocks Are Waffling, With Nvidia Setting the Tone

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The stock market is bouncing around in Thursday morning trading amid a choppy start for Nvidia in the wake of its latest earnings report.

After the three major indexes opened higher, they were struggling to hold onto gains. The Dow was faring the best with a gain of 65 points, or 0.2% after briefly dipping into negative territory. The S&P 500 was down 0.1%. The Nasdaq Composite was down 0.5%.

The big story of the day is Nvidia, which was waffling as traders tried to size up its latest report. Bespoke Investment Group co-founder Paul Hickey points out that the options market was pricing in an 8% move in either direction today following last night’s report. That would be a whopping $300 billion in market cap if Nvidia moved that much.

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