Five Things You Need to Know to Start Your Day: Asia

Good morning. Nvidia to deliver eagerly awaited results. BofA clients pull billions from US stocks. Investors weigh election risks via options. Here’s what’s moving markets. — Kristine Aquino

The S&P 500 Index held near a six-week high as investors awaited Wednesday’s earnings from Nvidia. The world’s most valuable chipmaker is expected to report revenue growth of more than 70% after the closing bell in New York. Shares are expected to move about 10% in either direction following the report, given current market pricing and past reactions. That would translate into around $310 billion of shareholder value created or destroyed. Beyond minting new millionaires within its employee ranks, the chipmaker has expanded its influence on broader markets too — it accounts for more than 6% of the S&P 500's market cap in terms of its index weight, so “it’s increasingly a bigger component of where the trend and momentum of the market goes,” Matt Stucky of Northwestern Mutual Wealth Management told Bloomberg Surveillance.