Weekly Market Commentary: Stocks Dip as Nvidia's Earnings Disappoint

Sunflower Bank Weekly Market Commentary: March 2, 2026

Each week, our Wealth Management team analyzes the U.S. stock market and bond market activity and news of the previous week, summarizing their findings into a weekly market update report. The key points of this week's commentary, "Stocks Dip as Nvidia’s Earnings Disappoint," include:

• Equity markets generally declined slightly last week, with semiconductor stocks hit hard the final two trading days of the week. The S&P 500 declined -0.4%, the Nasdaq 100 slipped -0.2%, and the Russell 2000 fell -1.2%.
• The most notable market-moving event last week was Nvidia’s earnings report, which failed to impress, despite another quarter of blockbuster results. The company continues to see remarkable revenue and earnings growth, and reported results and guidance ahead of published estimates. However, the numbers failed to meet elevated buy-side expectations. Shares of the company fell -6% the day after reporting.
• Artificial intelligence companies, particularly Anthropic, have been making rapid strides in productivity-enabling use cases in recent weeks. Anthropic has released a number of tools recently that showcase artificial intelligence’s ability to drive productivity. These demonstrations serve as a proof point for past and future investment in artificial intelligence capabilities.
• Turning to earnings more broadly, the vast majority (96%) of S&P 500 companies have now reported calendar 4Q25 earnings. Year-over-year earnings growth is expected to increase +14.2%, a greater growth rate than was initially expected.

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