Stocks Climb Before the Open as Nvidia Results Boost Sentiment, Powell Speech Looms

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September S&P 500 futures (ESU23) are up +0.49%, and September Nasdaq 100 E-Mini futures (NQU23) are up +1.13% this morning as blockbuster results from Nvidia boosted investor sentiment, while market participants also braced for Fed Chair Powell’s speech on Friday. NVIDIA Corporation (NVDA) surged over +8% in pre-market trading after the semiconductor giant reported better-than-expected Q2 results, issued upbeat Q3 revenue guidance, and unveiled an additional $25B stock buyback plan. Also, Stifel upgraded the stock to Buy from Hold. In Wednesday’s trading session, Wall Street’s major averages …

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