Nasdaq 100 Index Today: Trade Talks Continue as Investors Brace for Nvidia’s Earnings

The Nasdaq 100 (NDX) has demonstrated muted price action on Wednesday as investors prepare for one of most important earnings reports this quarter: Nvidia (NVDA). The report, scheduled to be released after the closing bell, will provide investors with an outlook for the AI industry given the company’s status as the global semiconductor leader. Wall Street expects Nvidia to report an adjusted EPS of $0.73 with revenue of $43.3 billion, signaling 65.5% year-over-year growth.

Pivoting to trade deals, EU trade chief Maroš Šefčovič said this morning that the U.S. and European Union are in “constant conversations” following President Trump’s 50% tariff threat on imported EU goods. Šefčovič added that aviation, semiconductors, and steel are key areas of discussion.

Furthermore, three German auto giants have engaged the U.S. Commerce Department in order to strike a trade deal. Mercedes (MBGYY), BMW BMW, and Volkswagen (VWAGY) are considering investing billions of dollars in the U.S. in exchange for tariff relief and have also proposed a strategy to offset imports and exports, reported German outlet Handelsblatt. The three companies hope to sign a deal by early July.

The Nasdaq 100 is up by 0.04% at the time of writing.

Which Stocks are Moving the Nasdaq 100?

Let’s turn our attention to TipRank’s Nasdaq 100 Heatmap, which illustrates the stocks that have contributed to the index’s price action.

The majority of stocks in the index are within the plus or minus 1% range, although that could change in after-hours trading once Nvidia reports its results. Within the technology sector, semiconductor companies Broadcom (AVGO), Texas Instruments (TXN), and Arm Holdings (ARM) are all in the green, possibly foreshadowing a good quarter for Nvidia. At the same time, Advanced Micro Devices (AMD) and ASML (ASML) are trading lower.

Meanwhile, Magnificent 7 members Google (GOOG) (GOOGL), Apple (AAPL), and Amazon (AMZN) are demonstrating muted price action in a day of quiet, but also nervous, anticipation for the street.

QQQ Stock Inches Higher with the Nasdaq 100

The Invesco QQQ Trust (QQQ) is an exchange-traded fund (ETF) designed to track the movement of the Nasdaq 100.

Wall Street expects further upside for QQQ stock, rating it as a “Moderate Buy.” During the past three months, analysts have issued an average QQQ price target of $561.55 for the stocks within the index, implying upside of 7.68% from current prices. The 102 stocks in QQQ carry 86 buy ratings, 16 hold ratings, and zero sell ratings.