Stock market today: US stocks score new record as better-than-expected reporting of Nvidia takes center stage

US stocks experienced mixed trading on Tuesday as investors awaited Nvidia’s (NVDA) pivotal earnings report, which is expected to impact market sentiment.

The Dow Jones Industrial Average (^DJI) fell approximately 0.2% in afternoon trading, following a record close earlier in the week. Both the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) remained largely unchanged.

Market uncertainty prevails as investors weigh the potential impact of Nvidia’s earnings report on Wednesday. The chipmaker, a key player in the AI sector, saw its shares decline by 1% on Tuesday, reflecting concerns about whether its results can meet the high expectations that have fueled the AI rally.

In addition, attention is focused on an upcoming update to the inflation measure favored by the Federal Reserve. Fed Chair Jerome Powell’s recent statements suggesting an imminent interest rate cut have bolstered expectations for a September policy shift. Friday’s release of the PCE price index could either validate or challenge predictions of a 0.5% rate cut next month.

On the corporate front, Apple (AAPL) announced the appointment of Kevan Parekh as its new CFO, ahead of a major product launch. Meanwhile, the acquisition of Paramount (PARA) appears close to completion, with Skydance Media poised to finalize the deal following the withdrawal of media veteran Eric Bronfman’s bid.