On the 28th (local time), the three major U.S. stock indexes in New York started lower.
As of 9:45 a.m. at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average was down 73.07 points (0.16%) from the previous session, recording 40,492.16.
The large-cap centered Standard & Poor's (S&P) 500 index fell 10.07 points (0.16%) to 6,471.33, while the technology-focused Nasdaq Composite Index dropped 34.39 points (0.16%) to 21,555.75.
The market reports that Nvidia's second-quarter earnings released after the market closed the previous day impacted the downward trend. Nvidia's second-quarter earnings showed sales of $46.74 billion and earnings per share (EPS) of $1.05, slightly exceeding market expectations ($46.06 billion sales and $1.01 EPS). However, the lack of a substantial 'earnings surprise' that Wall Street had anticipated amid the 'artificial intelligence (AI) boom' heightened disappointment, causing the stock to drop more than 2%.
However, some point out that Nvidia excluded its H20 chips sold to China from its guidance for this year's earnings, suggesting that there is significant potential for performance improvement if an agreement is reached between the U.S. and China.
Ben Reitz Meliar's chief technology research officer said, "Nvidia did not include China in its guidance," adding, "Given the strong growth in regions excluding China, there will likely be even greater growth in the fourth quarter."
Meanwhile, the preliminary report on the U.S. second-quarter gross domestic product (GDP) growth rate showed an annualized rate of 3.3%, exceeding both the expected rate (3.1%) and the advance estimate (3.0%). The number of initial unemployment claims was also recorded at 229,000, similar to market expectations (230,000), reaffirming the growth of the U.S. economy and the stability of the labor market.
European stocks show mixed trends. The German DAX index rose by 0.07%, while the British FTSE index fell by 0.45%.