U.S. stocks drifted lower as financial markets locked in their final moves before a highly anticipated update coming Friday about the U.S. job market.

In 2024, Nvidia’s revenue soared to $130.5 billion, with AI-driven data center sales accounting for nearly 80% of its growth, reflecting a 93% year-over-year increase. Its CUDA software ecosystem further cements its dominance, creating a high barrier to entry for competitors like AMD or Intel.

Wall Street strategists are upgrading their outlook for the S&P 500 as tariffs aren't expected to weigh on corporate earnings as much as initially feared.