Amidst anticipation surrounding Nvidia's (NVDA) upcoming earnings report, Dow Jones futures, S&P 500 futures, and Nasdaq futures all experienced a slight decline after hours. The stock market displayed relatively subdued activity on Tuesday, as investors hesitated to make significant moves before Nvidia's earnings announcement.

The artificial intelligence leader's earnings and guidance statement, scheduled for Wednesday night, carries great importance for AI stocks such as Broadcom (AVGO) and Taiwan Semiconductor Manufacturing (TSM), who depend on Nvidia's performance. Nvidia stock, which is currently positioned just below an early entry point, alongside Broadcom and Taiwan Semi, is also poised for potential growth.

Tuesday witnessed Netflix (NFLX), Costco Wholesale (COST), GE Vernova (GEV), and Ardent Health (ARDT) flashing buy signals, at least intraday. In the meantime, Warren Buffett's Berkshire Hathaway (BRKB) continued its ascent, edging closer to a monumental $1 trillion market cap. Berkshire Hathaway stock rose 1.6% to 460.63, reaching a new all-time high and positioning itself for a breakthrough after a brief consolidation period. The market cap of Berkshire stock has now reached $994.5 billion.

Nvidia and Netflix stock feature on IBD Leaderboard, while Nvidia, Netflix, and Ardent Health stock are listed on the IBD 50. Ardent Health was distinguished as Tuesday's IBD Stock of the Day. A video embedded in the article provides an overview of market action and reviews regarding Nvidia, Netflix, and Ardent stock.

Dow Jones futures fell approximately 0.1% versus their fair value, while S&P 500 futures and Nasdaq 100 futures experienced respective declines of 0.1% and 0.3%. It is important to note that the performance of Dow futures and other overnight indicators may not be indicative of actual trading results in the upcoming regular stock market session.

Cybersecurity firm SentinelOne (S) reported earnings just above estimates and experienced a modest increase overnight, following a slight 0.6% dip to 24.75. This development arrives a day before its main competitor, CrowdStrike (CRWD), releases its own earnings report. SentinelOne is speculated to potentially attract business away from CrowdStrike due to the latter's global IT outage on July 19.

Abercrombie & Fitch (ANF) is set to reveal its earnings before trading hours commence. ANF stock climbed 0.9% to 166.61 on Tuesday, reclaiming its position above the 50-day line. The current handle buy point for Abercrombie & Fitch stands at 172.90.

Additionally, BYD (BYDDF) and Li Auto (LI), two-profitable China-based electric vehicle manufacturers, will also present their earnings reports. BYD stock rose 1.6% to 29.20 on Tuesday, encountering resistance near the 50-day line, and positioned itself close to a potential 30 buy point. Li Auto gained 2.4% to reach 21.22 on Tuesday, although it remains in close proximity to its 52-week highs from late February. Tesla stock faced a 1.9% decline on Tuesday, positioning itself between the 50-day and 200-day lines.

The stock market rally maintained a relatively rangebound trajectory on Tuesday, with the Dow Jones Industrial Average recording a slight increase in Tuesday's trading session, following its record-breaking performance on Monday. The S&P 500 index demonstrated a modest gain, teetering just below record levels, while the Nasdaq Composite experienced a 0.2% climb after momentarily dipping below the 50-day line. The small-cap Russell 2000, on the other hand, saw a decline of 0.7%.

The S&P 500 and Nasdaq, in particular, exhibited a brief pause, with the latter trading between the 18,000 level and the 50-day line. U.S. crude oil prices underwent a 2.4% decline, reaching $75.53 per barrel.

ETFs focused on growth stocks showed mixed performance, as the Innovator IBD 50 ETF (FFTY) recorded a minor increase of 0.2%. The iShares Expanded Tech-Software Sector ETF (IGV) experienced a 0.3% climb, with SentinelOne occupying a minor position within the ETF. The VanEck Vectors Semiconductor ETF (SMH) demonstrated a more notable increase of 1%, bolstered by Nvidia's considerable presence, alongside Taiwan Semiconductor and Broadcom.

Reflecting more speculative story stocks, the ARK Innovation ETF (ARKK) experienced a 0.7% decline, while the ARK Genomics ETF (ARKG) saw a decrease of 0.8%. Tesla stock remains a significant holding across Ark Invest's ETFs, with Nvidia emerging as a top-10 holding. Cathie Wood's Ark Invest also owns a small stake in BYD.

Among sector-specific ETFs, the SPDR S&P Metals & Mining ETF (XME) registered a gain of 0.4%. Meanwhile, the SPDR S&P Homebuilders ETF (XHB) declined by 1%. The Energy Select SPDR ETF (XLE) displayed a decrease of 0.9%, while the Health Care Select Sector SPDR Fund (XLV) saw a slight increase of 0.15%. The Industrial Select Sector SPDR Fund (XLI) rose marginally, and the Financial Select SPDR ETF (XLF) recorded an increase of 0.5%, largely influenced by Berkshire Hathaway stock, which is currently its top holding.

On Tuesday, Netflix stock exhibited a 1.1% gain, reaching a price of 695.72, as it flirted with a buy point of 697.49 from a shallow cup base. Evercore increased its price target for NFLX stock to 750 from 710. Costco stock climbed 1.8% to reach 908.64, surpassing the 896.67 buy point determined by MarketSurge analysis, derived from a 12%-deep cup base.

Ardent Health stock performed remarkably, surging by 6.05% to 18.58, breaking through the 17.96 handle buy point originating from an IPO base. ARDT stock, which made its public debut in July, is part of the highly lucrative hospitals group. GE Vernova stock experienced a 1.9% climb to 185.65, positioning itself just above the 185.50 buy point. The spinoff from the former General Electric initially encountered a decline on Friday, but managed to minimize its losses throughout the day.

Overall, investor focus remains fixed on the forthcoming Nvidia earnings report, as it carries significant implications for the broader market rally, AI stocks such as Broadcom and Taiwan Semiconductor, and the future trajectory of Nvidia's own stock.