Market Summary: What Happened Yesterday and What Awaits Us Today, February 27

Wall Street Declines Despite Strong Nvidia Earnings… Profit-Taking Weighs on Tech Stocks

U.S. stock indices mostly ended Thursday’s session lower, snapping a two-day rally, even after Nvidia reported quarterly earnings that exceeded analysts’ expectations.

The technology-heavy Nasdaq Composite fell 1.2%, while the broader S&P 500 declined 0.5%. The Dow Jones Industrial Average, however, managed to close slightly higher.

The pullback followed strong gains earlier in the week, when markets rebounded from sharp losses driven by renewed concerns over tariffs and uncertainty surrounding the impact of artificial intelligence on certain sectors.

Despite posting better-than-expected results, Nvidia shares dropped about 5.5%. CEO Jensen Huang noted continued strong demand as companies accelerate investment in artificial intelligence infrastructure, but investors appeared to lock in profits after the stock’s significant recent rally. The decline weighed on the broader technology sector, which was the worst-performing segment of the market during the session.

Elsewhere, Salesforce shares rose roughly 4% despite issuing a full-year revenue forecast that came in below analysts’ expectations, suggesting investor confidence in the company’s longer-term outlook.

Among notable post-earnings movers, IonQ surged more than 20%, while JM Smucker gained about 9%. In contrast, C3.ai plunged 18%, and The Trade Desk fell approximately 5%.

Media and entertainment stocks delivered mixed performances. Paramount Global jumped around 10%, while Warner Bros. Discovery edged slightly lower following its results announcement. Netflix shares advanced more than 2% amid reports of potential acquisition activity.

In cryptocurrency markets, Bitcoin retreated to around $67,500 after briefly approaching $69,900 overnight.

Bond markets saw modest demand, with the yield on the 10-year U.S. Treasury falling below 4.02% from roughly 4.05% previously.

Commodity prices were mixed. Gold futures slipped 0.2% to $5,215 an ounce, while silver declined about 2% to $89.35. U.S. crude oil futures rose to $65.50 per barrel. Meanwhile, the U.S. dollar index gained 0.1% to 97.77.

Market outlook

Market sentiment is expected to remain sensitive to incoming economic data and comments from Federal Reserve officials, particularly regarding the outlook for interest rates and inflation.

Investors will also closely monitor upcoming corporate earnings — especially within the technology sector — to determine whether artificial intelligence-driven momentum can sustain further market gains or whether equities may enter a period of heightened volatility and short-term profit-taking.