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S&P 500 nears record high as commodities gain; Nvidia earnings key for AI trade outlook

Market News
22 Aug 2026
Seeking Alpha
View Source
Neutral
S&P 500 nears record high as commodities gain; Nvidia earnings key for AI trade outlook

Despite a down week in stocks and bonds, the S&P 500 remains within 2% of its all-time high, supported by active dip buyers. Commodities like gold, silver, and crude oil show strong performance as investors shift away from financial assets. Healthcare, Energy, and Materials sectors led gains, while momentum and growth stocks faced selling pressure amid risk-off sentiment. Nvidia's upcoming earnings report is a crucial event for the AI trade, with a potential miss possibly triggering significant market adjustments.

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ProShares Ultra Semiconductors ETF offers 2x exposure but carries high risk after strong rally.

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GraniteShares 2x Long NVDA Daily ETF offers 200% daily exposure to Nvidia, ideal for short-term AI-driven growth plays.

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