Daily Summary: Nvidia Earnings in Focus, Stocks Mixed, Tariffs Delayed

S&P 500 is flat, Nasdaq 100 added 0.15%, while the Dow Jones Industrial Average fell 0.47% as investors awaited Nvidia's crucial earnings report that could help reignite the artificial intelligence-driven rally.

Nvidia jumped ahead of its high-stakes fourth-quarter earnings release, with options market trading suggesting investors are pricing in a potentially 10% move in the company's shares as concerns about competition from China-based startup DeepSeek and the transition to new Blackwell chips loom.

Super Micro Computer surged 19% after submitting outstanding financial reports to become compliant with Nasdaq rules, while AppLovin Corp. shares plunged as much as 23% following reports from two short sellers before paring some losses.

Amazon.com rebooted Alexa with AI capabilities, General Motors plans to repurchase $6 billion in shares and raise its dividend, and Lowe's forecast sales to rise this year in an early sign consumers are starting to spend again.

Treasury yields declined with the 10-year yield dropping two basis points to 4.28%, while the Bloomberg Dollar Spot Index remained relatively unchanged and Bitcoin fell 3.3% to $85,745.37.

The Trump administration will delay implementing 25% tariffs on Canadian and Mexican imports until April 2nd (previously scheduled for March 4th), while also announcing plans for 25% tariffs on European automotive sector imports.

European stock index futures and the euro are experiencing downward pressure in light of the recent tariff announcements and trade tensions.

Senate confirmed Jamieson Greer as U.S. Trade Representative with a 56-43 vote to oversee Trump's aggressive trade agenda alongside Commerce Secretary Howard Lutnick, despite warnings from economists that the tariffs will raise prices and risk rekindling inflation.

Stellantis Chairman John Elkann urged the administration to keep products built in Mexico and Canada "tariff-free" while targeting the "loophole that currently allows approximately four million vehicles into the country" with no U.S. content requirements.

Treasury Secretary Scott Bessent named JR Gibbens, a Wall Street and military veteran, to advise on plans for a US sovereign wealth fund following Trump's executive order directing officials to create such a fund.

Active fund managers are holding their smallest allocations of megacap tech stocks since the global financial crisis, helping 49% of actively managed funds beat the S&P 500 in 2025, up from 38% during the same time last year.

In currency markets, the British pound is currently outperforming other major currencies, while the Antipodean currencies (Australian and New Zealand dollars) are showing the weakest performance.

Natural gas (NATGAS) is down 3.5% today due to decreased demand for electricity production from natural gas combustion.