Market Overview - The trading session for the S&P 500 and Nasdaq is experiencing significant volatility, with the S&P 500 showing its widest trading range since April [1][6] - The S&P 500 is down approximately 100 points or about 1.5%, while the Nasdaq has decreased nearly 500 points or 2.2% [6] Company Performance - Nvidia's stock initially rose by about 5% following strong revenue forecasts but later fell close to 3% due to concerns over inventory buildup and accounts receivable [5][17] - Wal-Mart is the top gainer in the S&P 500, up 6.5%, as it raises its full-year sales and profit outlook, benefiting from strong e-commerce performance and a diverse product range [11][12] - Regeneron shares increased by nearly 5% after FDA approval for a higher dose of its drug EYLEA, indicating positive market reception [13][14] - Ross Stores reported a 10% year-over-year sales increase, with earnings per share beating estimates at $1.58 compared to the expected $1.40 [9] Earnings Reports - A company reported an adjusted EPS of $3.34, exceeding the estimate of $3.09, with net revenue for the quarter at $9 billion, also above expectations [7][8] - Ross Stores anticipates second-quarter revenue to be between $4 billion and $5 billion, indicating a positive outlook [10] Industry Trends - There is a notable shift in focus among analysts from public companies to private markets, driven by the impact of artificial intelligence on public company fortunes [28][29] - Companies are increasingly interested in understanding private firms either for investment opportunities or to assess potential threats to their investments [29][30]
Stocks Slide as Tech Shares Reverse After Earnings | Closing Bell