Markets Give Up Gains Despite Strong Nvidia Earnings

Key Takeaways

• Stocks Are Struggling To Hold Gains
• Mortgage Rates Continue Climbing
• All Eyes On Jackson Hole

Markets opened Thursday and appeared set to move higher on the back of a stellar earnings report from Nvidia. However, the rally faded more quickly than Vanilla Ice’s haircut. Stocks gave up all their gains and then some to close down on the day. The S&P 500 fell 1.3% on the day and the Nasdaq Composite dropped 1.9%. Shares of Nvidia, which were the initial catalyst to the strong start Thursday, closed at just under $472, after having traded as high as $502.