• A mix day of trading. Stocks closed mixed on Tuesday ahead of Nvidia's earnings report today and investors concerned over escalation in the Russia/Ukraine war. The Dow Jones closed down nearly 0.3% while the S&P 500 and NASDAQ battled to finish the day in the green. President Vladimir Putin had signed a revised nuclear doctrine that allows Russia to expand its use of atomic weapons.
• Nvidia shares pop ahead of earnings. Shares of the chipmaker were moving higher by 5% on Tuesday as investors embrace the company's earnings report today. Stifel analyst Ruben Roy raised his price target on Nvidia to $180 from $165, while Truist Securities' William Stein raised his price outlook to $167 from $148.
• U.S. bond prices climbed higher. Alongside gold and other safe-haven assets, U.S. bond prices moved higher while Treasury yields moved lower. 
• Gold jumped almost 1% to trade above $2,600 an ounce. "Geopolitical risks have reemerged, driving demand for gold and solidifying its role as a reliable hedging asset," Ahmad Assiri, research strategist at foreign exchange broker Pepperstone, said in a note on Tuesday.
• Bitcoin touched a new record. The cryptocurrency rose to a new record of above $93,500 a token. The coin has surged since the Presidential election on November 5, touching a record north of $93,400 last week.
• C3.ai shares surged over 25%. The company announced an expanded strategic alliance with Microsoft (MSFT). The expansion will accelerate enterprise artificial intelligence adoption on Microsoft Azure. 
• Bakkt Holdings extended gains on Tuesday rising around 3%. A report from the Financial Times on Monday said Trump Media & Technology Group (DJT), which operates the social network Truth Social, is in advanced talks to acquire the crypto exchange. Bakkt shares had surged over 162% in the immediate aftermath of the report. 
• Super Micro Computer jumped over 30%. The company's stock reached its highest level in two weeks, after the artificial intelligence company said Monday it would stay listed on the Nasdaq as the exchange reviews its compliance plan.
• Goldman Sachs sees S&P 500 hitting $6,500 next year. On Monday, Goldman Sachs chief US equity strategist David Kostin initiated a 2025 year-end S&P 500 target of 6,500, representing about an 11% gain in the benchmark index from current levels.
• Lowe's shares dropped. Lowe's stock fell nearly 5% shortly after reporting its financial results. The home improvement retailer posted revenue of $20.17 billion, compared to estimates of $19.93 billion. Adjusted earnings per share came in at $2.89, versus the $2.82 expected.
• Housing starts fell in October. Data from the Census Bureau showed housing starts dropped 3.1% in October to an annual rate of 1.311 million units. Meanwhile, single-family housing starts slipped 6.9% to a seasonally adjusted annual pace of 970,000 units, unchanged from a year ago.

___________________________
 

Overall, analysts see Nvidia’s adjusted quarterly earnings rising 85% from the year-ago period to $0.74 per share and revenue rising roughly 84% to $33.2 billion, according to Bloomberg consensus estimates. About 90% of Wall Street analysts tracked by Bloomberg recommend buying the stock.

_______________________________________________________

Most Active Stocks

• Super Micro Computer (SMCI)
• Nvidia (NVDA)
• Walmart (WMT)
• C3.ai (AI)
• Tesla (TSLA)
• Lemonade (LMND)
• Mara Holdings (MARA)
• Archer Aviation (ACHR)
• H&R Block (HRB)
• Symbotic (SYM)

In the Spotlight

Walmart Warns that Trump's Tariffs Could Raise Costs for Customer

Big box retailer Walmart has warned about the impact new tariffs could have on prices for US consumers. Following its earnings report on Tuesday, the company told Reuters in a statement: "We're concerned that significantly increased tariffs could lead to increased costs for our customers at a time when they are still feeling the remnants of inflation." On Tuesday, Walmart reported third quarter earnings that topped analysts' expectations, sending the retailers' shares up nearly 4% to a record high in afternoon trade.

CVS, Cigna, and UnitedHealth Sue Over Insulin Prices

CVS Health, UnitedHealth Group and Cigna sued the Federal Trade Commission, claiming the agency’s case against drug middlemen over high insulin prices in the U.S. is unconstitutional. The FTC in September sued CVS’s Caremark, Cigna’s Express Scripts and UnitedHealth’s Optum Rx in the agency’s administrative court.