Nvidia (NVDA) stock edged lower after reporting record Q2 earnings but softer-than-expected data center revenue, signaling growth may moderate after a massive AI-driven boom. CEO Jensen Huang told Yahoo Finance that demand remains strong even without China sales, but investors are parsing export risks and new product outlooks. US stocks hold steady after GDP was revised up to 3.3%, with PCE inflation data due Friday and jobs data next week. Mexico plans to raise tariffs on China in its 2026 budget proposal, targeting cars, textiles, and plastics under pressure from the US. Meanwhile, Snowflake (SNOW) jumps on strong guidance, Warren Buffett’s Berkshire Hathaway (BRK-A) boosts stakes in Japan’s trading houses, and Best Buy (BBY) tops estimates but sticks with its forecast, citing tariff risks.

Takeaways:

Nvidia beats earnings but data center growth slows; China outlook in focus
US GDP revised up; PCE and jobs data next key tests for Fed rate cuts
Mexico to hike tariffs on China imports as trade tensions rise
Snowflake rallies, Buffett bets on Japan, Best Buy cautious on tariffs

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Nvidia wavers, GDP surprise, Mexico-China tariffs