Erica Paige

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when the index jumped or fell by at least one percentage point on more than half of trading days. So far in the relatively calmer second half of the year, the index has moved more than 0.9% approximately one out of every 10 days.

The S&P 500 moved more than 0.9% on nearly a third of all trading days this year through Tuesday. But that figure is inflated by the tariff tumult that gripped markets in March and April

Options data suggests traders expect the S&P 500 to move about 0.9% in either direction on Thursday, the first day of trading after Nvidia's report.

Nvidia's stock is expected to post its biggest post-earnings stock move in over a year, according to recent options pricing. That could translate into a market response that resembles that of a pivotal piece of economic data more than a single company's earnings report

Nvidia accounts for about 8% of the benchmark index, a whole percentage point more than its next largest component, Microsoft (MSFT).

As the world's most valuable public company, Nvidia (NVDA) has more influence than any over the value of the S&P 500 and the more than $1 trillion indexed to it. With a market capitalization of about $4.4 trillion

All eyes are on Nvidia heading into the artificial intelligence chip giant's second-quarter earnings report, due after markets close on Wednesday.

Nvidia Earnings Could Spark a Big Stock Market Move

according to PitchBook analysts. They expect 2026 to be more active, though that group will have to reckon with "the higher bar to entry."

Though this year's listings have received warm market receptions, the VC exit environment remains "muted," with few registrations in the pipeline

A quarter of 2025's IPOs had positive net income, compared to 2021's 12%, PitchBook said.

While Figma's IPO was valued at almost $20 billion, a high-valuation outlier among this year's group, it was also profitable, unlike many companies that go public

Until this year, the sole company to have $1 billion in sales at IPO since 2022 was Maplebear (CART), which does business as Instacart.

showed revenue rising by about the same amount over the three years leading up to its debut. The average revenue for tech IPOs this year is $831 million, and four have hit the $1 billion mark, per PitchBook.

For example, Chime (CHYM), which accepted an exit valuation 62% lower than its highest valuation mark as a private company

The current IPO market "remains highly selective and focused on strong financials rather than high-loss startups," PitchBook analysts Kyle Stanford and Emily Zheng wrote.

That's closer to the modest 3% premiums last year's cohort fetched than the 100%-plus premiums that IPOs fetched in 2020 and 2021.