US OPEN: All Eyes on Nvidia

Wednesday's session will be one of anticipation. At the end of the session, crucial data from the FOMC meeting will be released, and Nvidia will publish its results after the session. The American market is rising at the opening, indicating that despite significant declines over the past two weeks, investors have high hopes for the results of the component and AI giant. NASDAQ100 index futures are up over 1.5%.
The market is expecting Nvidia to beat its results for the 12th consecutive time. However, this is not enough, as in recent quarters, there have been multiple instances where the company lost a few percent of its massive capitalization in response to one of the indicators falling below high expectations. There is no doubt that disappointment—which will be easy to come by—could trigger another wave of sell-offs.

Macroeconomic Data:

In the macroeconomic data segment, data on the US trade balance has been published. The US trade deficit decreased to 59 billion, against expectations of 61 billion and the previous reading of 78 billion. There is a gradual but significant reduction in the deficit, since it radically increased at the beginning of Donald Trump's current term. Increased inflationary pressure can be expected due to the depletion of cheaper raw materials and products stockpiled before the tariffs were introduced.
Data on oil inventories has also been published, which fell more than expected (-3.43 against expected -1.9), while gasoline inventories unexpectedly rose against the expected drop of 1mn bbl.

US500 (D1)

Source: xStation5

The chart shows a moderately successful attempt to negate the forming head and shoulders pattern, while the candle on the D1 interval performs a bullish engulfing. To completely negate the H&S pattern, buyers must exceed and maintain the FIBO 38.2 retracement level, with resistance at the 6700 level and the EMA50 average. Additionally, RSI (14) in the oversold region (45) will work in favor of buyers. If sellers want to maintain the recent initiative, the price must remain below the FIBO 50 level, allowing for the continuation of the downward movement towards the strong resistance zone at the FIBO 61.8 level, where the long-term trend line and EMA100 average also occur.

Company News:

• Nvidia (NVDA.US) - The company publishes its results after the session ends. Before the publication, the company's valuation is up 3%.
• DoorDash (DASH.US) - The food delivery provider is up about 3% after receiving a positive recommendation from an investment firm.
• Alphabet (GOOGL.US) - The latest AI model—Gemini 3, has been released by the company. The market and analysts are highly impressed with the new product's capabilities. The company's shares are up by as much as 6%.
• Constellation Energy Corp. (CEG.US) - The energy provider is up over 3% after receiving approval and funding from the US government to restart the infamous nuclear power plant at "Three Mile Island."
• MP Materials (MP.US) - The company mining and processing rare earth metals is up over 4% following a positive recommendation from an investment bank.
• Anglogold (AU.US) - Gold mining enterprises are gaining in valuations amid new growth and expectations regarding gold prices for the next year. The company is up over 2%.
• Unity Games (U.US) - The software producer and distributor for game production is entering into a collaboration with Epic Games, with the stock price rising over 8%.
• Lowe’s (LOW.US) - The market sees favorable prospects for the company after recent results. The company's stock is up over 6%.