Stocks displayed cautious trading ahead of Nvidia's highly anticipated quarterly report. After a rally fueled by tariff delays, investors kept a keen eye on corporate fluctuations, notably with GameStop acquiring over $500 million in bitcoin. The Magnificent Seven stocks remained mostly stable, while broader market indexes like the Nasdaq, S&P 500, and Dow Jones showed minimal gains. Macy's struggled with a profit forecast cut, whereas Abercrombie & Fitch experienced a notable surge in stock value amidst positive earnings reports.
Stocks are showing little conviction in early morning trading, with the Nasdaq Composite, S&P 500 and Dow Jones Industrial Average all posting fractional gains.
GameStop is down 3.5% on the day after expanding its footprint into the cryptocurrency markets with its maiden bitcoin purchase worth over $500 million.
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