Nvidia's first-quarter results are due after Wednesday's bell. Traders brace for big stock movements. Options markets price a 6.5% swing either way.
That isn't historically large in percentage terms. But it's equivalent to about $350 billion in market cap. That's more than 90% of S&P 500 firms combined.
The AI boom is lifting bond yields. The Fed's April meeting minutes release today will be watched closely.
Fed futures are almost 80% priced for a rate hike this year. The Iran war and oil prices stoke inflation.
