Midday stock movers: Nvidia, AMD, Levi Strauss

The stock market is trading lower midday. The S&P five hundred lost zero.four%, and the tech-heavy Nasdaq Composite fell zero.3%. The Dow Jones Industrial Average lost zero.6%, and the Russell 2000 Index dropped zero.9%.

S&P five hundred big stock movers this day

Five S&P five hundred stocks making big midday moves are:

• Vistra (VST) +6.7%
• Marketaxess Holdings (MKTX) +6.5%
• Valero Energy (VLO) +5.3%
• Marathon Petroleum (MPC) +four.6%
• Constellation Energy (CEG) +four.3%

The worst-performing five S&P five hundred stocks with the largest midday drop are:

• Constellation Brands (STZ) -four.3%
• Tesla (TSLA) -four.zero%
• Universal Health Products and services (UHC) -3.9%
• Warner Bros Discovery (WBD) -3.6%
• Bio-Techne (TECH) -3.5%

Stocks also worth noting include:

• Nvidia (NVDA) +3.5%
• Stepped forward Micro Devices (AMD) +1.eight%
• Apple (AAPL) -1.1%
• Nike (NKE) -1.1%
• Levi Strauss (LEVI) -7.2%

Nvidia trades higher on “insane” demand ahead

Nvidia stock added 3% after CEO Jensen Huang revealed strong demand for Blackwell.

"Blackwell is in full production," Huang said on Oct. 2 in an interview with CNBC. "Blackwell is as planned, and the demand for Blackwell is insane. Everyone wants to have the foremost, and everyone wants to be first."

Related: Nvidia CEO Jensen Huang just told investors what’s next for the AI chipmaker

Blackwell is a platform Nvidia rolled out in March that lets in organizations to run real-time generative AI on models trained to understand and produce human language. Its customers include Amazon AWS, Microsoft Azure, and Google Cloud.

"There could also be new Al infrastructure generation every year," Huang said. "So, we're updating our platform every single year. If we can enlarge the performance, like now we have done for Hopper and Blackwell ... we're effectively increasing the revenue or throughput for our customers on these infrastructures by a couple to thrice each and once a year."

AMD stock gains on analyst update

AMD stock added nearly 2% after a BofA analyst said that AMD’s AI event on October 10 shall be a “catch-up catalyst,” per thefly.com

The analyst notes that last year's AI event on December 6 produced 19% and 80% stock returns one month and three months later, respectively.

Related: Analysts reset AMD stock outlooks after AI acquisition

The analyst argues that roadmap updates in AI and server CPU with supporting cloud customer comments "could reinvigorate AMD stock," but warns of intensifying competition right through the AI industry.

BofA maintains a buy rating and a $A hundred and eighty price target on AMD shares.

Levi Strauss tumbles on weak outlook

Levi Strauss lost 7.3% after the jeans maker posted a revenue leave out and reduced its fiscal-year revenue outlook.

For the quarter ended Aug. 25, the corporate earned 33 cents per share, higher than the 31 cents expected by analysts. On the other hand, revenue of $1.52 billion missed analysts’ forecast of $1.55 billion.

More Retail Stocks:

• Target makes bold clarification to come back policy amid alarming trend
• Analyst revisits Costco stock price target, rating earlier than earnings
• Nike shares swoosh higher after new CEO is termed

Levi Strauss also lowered its revenue guidance, now expecting sales to grow 1%, down from prior guidance for growth of 1% to 3% and under both.3% growth that analysts had expected, per LSEG data.

The company is allowing for selling its Dockers brand, whose sales at Dockers were down 15% to $Seventy three.7 million after all of the quarter.

Related: The ten best investing books, per our stock market pros