Stock markets fluctuated on Wednesday as investors braced for a key earnings update from AI giant Nvidia, whose robust growth has largely driven strong gains for tech stocks in recent months.

The tech-heavy Nasdaq index opened slightly down while the broader S&P 500 rose as investors awaited second-quarter results from Nvidia after Wall Street closes.

"The company has outgrown the tech sector and become the market's lodestar," said Stephen Innes of SPI Asset Management.

"Analysts expect revenue to soar 53 percent to $46 billion, but this is about more than revenue beats," he added. "The crowd wants reassurance that the AI revolution isn't just smoke and mirrors."

In Europe, the Paris stock market bucked the trend by rebounding from Tuesday's tumble caused by fears that France's minorit

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