Wall Street regained some ground on Tuesday as technology stocks bounced back from their recent selloff, giving investors a brief reprieve before Nvidia's closely watched earnings report.The S&P 500 gained 22.58 points, or 0.30%, to end at 7,675.54 points, while the Nasdaq Composite gained 171.11 points, or 0.66%, to 26,151.30. The Dow Jones Industrial Average rose 160.01 points, or 0.30%, to 53,577.17.The Nasdaq led the gains as chip stocks recovered. Nvidia, Meta and Micron advanced, while the broader semiconductor index also rebounded after falling sharply in the previous session. AMD gained after Raymond James upgraded the stock.The recovery came alongside a decline in oil prices and longer-dated Treasury yields, easing some of the pressure that had recently weighed on equities. Oil fell to a one-week low as traders assessed the latest US pressure on Iran, while investors continued to digest Treasury Secretary Scott Bessent's plans to expand government bond buybacks.That combination gave markets some breathing room, but investors remain caught between several competing forces."There’s a lot of push and pull, in the bond market, geopolitics, oil," said Joe Quinlan, head of market strategy at Merrill and Bank of America Private Bank. He remained constructive on the US economy and markets over the next 12 to 18 months.The bigger test arrives Wednesday, when Nvidia reports results that could determine whether the recent technology rally has further room to run.Nvidia has become a central gauge of investor enthusiasm for artificial intelligence, and the company's results are expected to provide another reading on whether the massive spending behind AI infrastructure remains sustainable.The market's expectations have also changed. Nvidia beating forecasts is no longer enough to generate excitement, as investors increasingly want evidence that the company's growth can continue at an exceptional pace."This is the classic problem of being the epicenter of the buildout," said Mark Malek, chief investment officer at Siebert Financial. "When you are the trade, execution stops being a catalyst and becomes a prerequisite."That concern extends beyond Nvidia. Investors have become increasingly cautious about how major technology companies are financing their AI investments and whether the spending can produce returns that justify current valuations.Outside technology, individual stocks reflected a more uneven market.Moderna jumped after Barclays raised its price target, days after Moderna and Merck reported late-stage trial results for their jointly developed skin cancer vaccine.Dick's Sporting Goods plunged after cutting its annual forecasts, while Nike also fell. Target shares declined after the retailer apologized and pulled a Halloween costume that drew criticism for resembling Blackface, adding another brand-related setback as it works through a turnaround.The broader economic picture offered little certainty. A survey showed US consumer confidence fell to a seven-month low in August, suggesting households are becoming less optimistic about the economy, labour markets and inflation.Investors now await the Personal Consumption Expenditures report for a clearer view of price pressures and the Federal Reserve's next moves. Markets are still pricing in one 25-basis-point rate increase by the end of the year.Fed Chair Kevin Warsh's speech at Jackson Hole on Friday will provide another important test for rate expectations.For now, Wall Street has recovered from its latest wobble. But with Nvidia's results next and monetary policy still uncertain, Tuesday's gains look more like a pause in the debate over how far the technology-led rally can go than a decisive change in direction.(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)