Jefferies analysts forecast a potential US-China agreement could significantly boost Nvidia's stock by facilitating US chip sales in China in return for access to rare earth materials. Nvidia's stock is currently consolidating, with a range between $164 and $195, as it awaits key earnings reports from major clients like Microsoft, Google, Meta, and Amazon. Nvidia is projected to announce a 55% year-over-year revenue increase, reaching $54.64 billion in its upcoming earnings report. According to Polymarket data, there is a 72% probability of a US-China deal by November 10, which could trigger a bullish breakout if Nvidia's stock surpasses $195.