When Nvidia, the chip producer, reports earnings next week, investors expect the S&P 500 to have a bigger reaction than when the Fed chair delivers a big speech on Friday.

Nvidia is in several stock market indexes, including the S&P 500 and Nasdaq Composite index. As a result, index funds and exchange-traded funds (ETFs) that benchmark their returns against those indexes hold Nvidia stock. According to ETF.com, 525 ETFs held 2.3 billion shares of Nvidia as of late 2024. The ETFs with the most shares were:

A wobble in U.S. technology shares has raised the stakes for Nvidia Corp's quarterly results on Wednesday, with earnings from the semiconductor giant posing a crucial test for the scorching AI trade.