Wall Street traders pushed stocks higher ahead of results from Nvidia Corp. - the latest of the "Magnificent Seven" mega-caps to report.

With earnings from the world's most valuable company coming soon, the S&P 500 rose as Nvidia recovered from session lows. In addition to a read on artificial intelligence spending, the numbers could have implications for the broader market due to the company's huge influence on the major indexes.

With a market capitalization of $4.4 trillion, Nvidia has a weighting of about 8% in the S&P 500. Options traders are discounting a stock move of about 6% in either direction the day after the results, according to data compiled by Bloomberg.

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