Finance

Market participants are intensely focused on Nvidia's upcoming second-quarter earnings release, viewing the chipmaker as a vital indicator for the broader artificial intelligence sector. Wall Street analysts expect a massive year-over-year revenue surge to approximately $92 billion, driven primarily by relentless data center and GPU demand. Shares recently rebounded by over 2%, snapping a seven-day losing streak ahead of the official announcement.

Bitcoin momentarily surged past the $80,000 threshold for the first time in three months before paring gains to trade near $79,000. The digital asset rally was catalyzed by the U.S. Treasury's expansion of its long-term bond buyback program, which sparked concerns over dollar debasement and triggered massive liquidations of bearish short positions. Upward momentum was further supported by substantial weekly inflows into spot bitcoin exchange-traded funds and positive legislative sentiment.

Shares of Dick's Sporting Goods plunged around 27% to 30% after the retail giant missed fiscal second-quarter financial expectations. Management trimmed its full-year earnings projection, citing mandatory price cuts on footwear and apparel to sustain competitiveness in a challenging athletic marketplace. The disappointing performance highlighted growing concerns regarding consumer resilience amidst broader economic pressures and softening consumer confidence.