Finance

Nvidia shares bounced back by more than 2% right before the market closed, successfully ending a notable seven-day stretch of losses. The broader financial sector remains highly focused on the artificial intelligence bellwether as it prepares to report its second-quarter earnings. Given the firm's massive multi-trillion dollar market capitalization, analysts view the upcoming release as a critical pivot point for overall market momentum.

The price of Bitcoin briefly crossed the $80,000 mark for the first time in over three months, spurred by substantial capital inflows and a severe squeeze on short positions. Traders are increasingly rotating into alternative digital assets following recent U.S. Treasury implementations that expanded bond buyback programs. This policy shift has effectively reignited macroeconomic concerns regarding long-term dollar debasement and inflation.

Shares of Dick's Sporting Goods cratered after the prominent retailer missed second-quarter financial expectations and significantly lowered its outlook. The company attributed the downward revision to a highly promotion-driven environment where competitors are heavily discounting athletic footwear and apparel. Furthermore, underperforming product rollouts during the quarter added substantial pressure to the business.