S&P 500 Slips as Nvidia Drags Tech: Markets Brace for PPI Inflation Data

The S&P 500 fell 0.54% as Nvidia's 5% drop outweighed broader market gains. Investors are now focused on upcoming PPI inflation data and sentiment trends on Polymarket to gauge the next move.

The S&P 500 folded 0.54% at 6,908.86 on Thursday, snapping a two-day winning touch. Shares of NVIDIA( NASDAQ: NVDA) fell more than 5% despite a positive earnings report and forecast, dragging chip stocks and the more comprehensive technology field with it on the back of various other unsatisfactory software application quarterly results. The market delivered its verdict on the quarter: good numbers, wrong tale.

Thursday’s close places the benchmark index back near the lower fifty percent of the 6,800– 7,000 array it has been embeded for weeks. The VIX Volatility Index has climbed to 18.62, signifying that investors are paying extra for protection.

Market Breadth vs. Tech Heavyweights

The majority of S&P 500 supplies really shut greater on Thursday– it was Nvidia’s outsized weight that dragged the index down. That’s a breadth disagreement bulls will lean on: the rot is focused, not wide. If PPI can be found in at or below expectations, the alleviation profession might promptly turn the premarket tone.

Polymarket Sentiment and Inflation Outlook

Currently, Polygon-based( CRYPTO: POL) Polymarket is valuing in even more of the same. The market for Friday opened up at 64% “Down,” and 36% “Up,” with $43,926 in quantity currently placed versus the concern: “S&P 500 (SPX) Opens Up or Down on February 27?”

The larger number is off the index itself. January’s delayed manufacturer consumer price index (PPI) report, consisting of heading, core, and year-over-year data, will be out by 8:30 a.m. ET on Friday, with experts expecting 0.3% monthly development. The PPI is a procedure of wholesale inflation.