U.S. stocks edged higher: The Nasdaq Composite rose 0.5%, chip stocks rallied across the board, with Nvidia’s earnings report and remarks from Powell’s successor in focus.

According to BIT (Bit.com) market data, U.S. stocks edged higher during Tuesday’s intraday session, with U.S. Treasury yields declining for the second consecutive day and chip stocks lifting the Nasdaq index. The S&P 500 rose 0.2%, the Nasdaq Composite gained 0.5%, and the Dow Jones Industrial Average was roughly flat. U.S. Treasury yields continued to pull back, with the 10-year Treasury yield falling to 4.658%. Earlier market reports noted that the U.S. Treasury may deploy around $1 trillion in Treasury General Account funds for bond repurchases, driving long-dated U.S. Treasury yields lower. Chip stocks were the session’s highlights: Nvidia rose over 1%, AMD and Micron both gained around 3%, and Intel climbed more than 2%. Markets are awaiting Nvidia’s post-market earnings report on Wednesday, with the AI and semiconductor sectors drawing significant attention. Consumer stocks faced pressure meanwhile: Dick’s Sporting Goods plummeted over 27% due to disappointing earnings, a move that makes it highly likely to post its largest single-day percentage drop in history; Walmart fell around 1%, and Target dropped roughly 3%. Additionally, investors are waiting for the U.S. July Personal Consumption Expenditures (PCE) Price Index, scheduled for release on Wednesday. Recent oil price declines have eased some inflation concerns, with international crude oil prices falling more than 3% on Tuesday. Another key market variable this week is Federal Reserve Chair Kevin Warsh’s speech at the Jackson Hole Symposium on Friday, as markets will closely watch his latest remarks on monetary policy and interest rate outlooks.