LIVE MARKETS-US stocks churn, await Nvidia, retail earnings

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U.S. STOCKS CHURN, AWAIT NVIDIA, RETAIL EARNINGS

The main U.S. stock indexes are mixed with just modest changes early on Monday as investors look ahead to crucial corporate results, especially from AI-chip leader Nvidia, following Wall Street's slump the previous week.

Results from Nvidia NVDA.O, which reports third-quarter earnings on Wednesday, will be crucial as investors assess if the optimism around AI, responsible for much of markets' tech-driven rally this year, can be sustained.

And with the key holiday shopping season set to kick off, results from major retailers including Walmart WMT.N, Lowe's Companies LOW.N and Target TGT.N this week will be closely watched to gauge the strength of the U.S. consumer.

A majority of S&P 500 .SPX sectors are higher early on Monday with consumer discretionary .SPLRCD, up more than 1.5%, the leading gainer. Tech .SPLRCT, only off around 0.25%, is the weakest group.

Under the surface, the S&P 500 banks index .SPXBK did make a fresh record intraday high, before slipping back.

Gold stocks .HUI, up more than 4%, are strongly outperforming.

Here is a snapshot of where markets stood just after 1000 EST:

(Terence Gabriel)

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FOR MONDAY'S EARLIER LIVE MARKETS POSTS:

BENCHMARK TREASURY YIELD REMAINS ON A RUN - CLICK HERE

SHELL, BESI, ASTRAZENECA IN BARCLAYS' 14 HIGH CONVICTION EUROPEAN STOCK IDEAS - CLICK HERE

EUROPE'S U.S. LOCAL GOODS EXPOSURE COULD HELP OFFSET TARIFFS - CLICK HERE

WILL AMERICA MAKE LUXURY GREAT AGAIN? - CLICK HERE

STOXX WAVERS AROUND PARITY - CLICK HERE

EUROPE BEFORE THE BELL: QUIET START TO THE WEEK - CLICK HERE

BOJ OPEN TO TIGHTENING, MUM ON TIMING - CLICK HERE

(Terence Gabriel is a Reuters market analyst. The views expressed are his own)