Futures Rise Ahead of NVDA Earnings, $1B Nuclear Loan to CEG, LOW Jumps

Market Overview - The market is anticipating significant movement due to Nvidia's upcoming earnings announcement, with expectations of a 7% potential move either up or down [1][2] - Historical reactions to Nvidia's earnings have been mixed, with implied volatility decreasing but stock prices pulling back slightly [2][3] - The S&P 500 may be influenced by Nvidia's performance, although recent trading sessions have shown limited reaction to earnings announcements [3][4] Nvidia Insights - Key focus will be on Nvidia's data center numbers, especially after a previous miss in this area, which was attributed to supply chain bottlenecks [4][5] - If Nvidia faces similar issues this time, it could negatively impact the stock more significantly than before [5] Sector Sentiment - The market appears to be adopting a more defensive stance, as indicated by the performance of equal-weighted indices [6][7] - A rotation in market sectors is observed, with both defensive and risk-on sectors not being sold off entirely, which may provide a foundation for the S&P 500 [7][8] Economic Indicators - Credit default swaps for companies like Oracle are rising, indicating elevated equity volatility in the market [9] - Upcoming expirations of VIX options may reduce market volatility temporarily [10] Federal Reserve Nomination - The shortlist for the next Fed chair includes Kevin Hasset and Kevin Walsh, with Rick Reer still in contention [12][13] - The market is looking for a nominee who will maintain a balanced approach to rate cuts, avoiding aggressive policies [14][16] Constellation Energy Update - Constellation Energy shares are rising following the approval of a $1 billion loan to restart the Three Mile Island unit, which was shut down in 2019 [19][20] - The loan aims to revamp the facility to meet U.S. standards for power production, benefiting the utility sector [20][21] Lowe's Performance - Lowe's reported revenue of $20.81 billion, slightly above expectations, and adjusted earnings per share of $3.36, compared to the anticipated $2.97 [23][24] - The company lowered its profit guidance but increased revenue outlook, reflecting a cautious sentiment in the housing market due to higher interest rates [25][26][27]