Goldman Sachs: Nvidia (NVDA.US) is one of the most important stocks globally.

NVIDIA (NVDA.US) will undoubtedly become a major factor affecting the market as it releases its fourth quarter earnings for the fiscal year 2024 after the US stock market closes on Wednesday. NVIDIA has been referred to as the "most important stock on earth" by Goldman Sachs trading department due to its significant weight in various indexes and the large number of long positions in the stock. The options positions on the stock suggest that its price could fluctuate by about 11% in either direction, which could shake the financial markets, as NVIDIA has contributed a third of the Nasdaq 100 index's gains this year. Goldman Sachs strategy expert Scott Rubner stated on Tuesday, "Everyone is betting, and there are position warning signals. The bar is set high, and by high, I mean that we are expecting a significant impact." Driven by the artificial intelligence boom, NVIDIA's market value has doubled in the past year, leading to a broader impact on the market. Traders are now preparing for more volatility as market tension is rising. NVIDIA closed down 4.4% on Tuesday, dragging other large stocks lower.