US futures are flat as markets await the earnings release from Nvidia, a leading company in the global artificial intelligence industry. Nvidia's performance is seen as a barometer for AI spending across the technology sector. The company is expected to report a revenue growth of over 70% for the current quarter. Any disappointing results are likely to impact the markets, given Nvidia's significant role in US indexes.
In premarket trading, Nvidia remained flat, having rallied about 160% this year. Bank of America is down again, following Warren Buffett's continued reduction of his stake in the bank. Nordstrom rose 8.3% after the department-store chain issued a stronger-than-expected adjusted earnings-per-share outlook.
The Nvidia report and earnings guidance are seen as crucial at a time when markets are grappling with the possibility of a US recession and whether the Federal Reserve can cut interest rates fast enough to engineer a soft landing. Money markets currently price about 100 basis points worth of interest rate cuts this year, starting in September.
European stocks are solidly in the green, rising 0.6% and at the highest since mid-July, led by chemical and insurance names.
In FX, the dollar rose about 0.2% rising versus all its G-10 rivals except the Aussie which is flat after CPI topped estimates; the greenback is still on track for its steepest monthly decline this year, undermined by rate-cut bets.
In commodity markets, gold retreated $15 to around $2,509/oz, after a three-day advance that took it closer to its all-time high, while Brent crude futures shed 1%, adding to the previous day’s slide; WTI fell 0.9% to trade near $74.80.
Bitcoin fell below the $60,000 level as part of a broad crypto market retreat that included a sharp drop in second-largest token Ether.
The US economic data calendar is empty for the session; Fed speakers scheduled include Bostic at 6pm.
Bottom Line
As markets await the earnings release from Nvidia, it's clear that the company's performance could have a significant impact on the market. The anticipation highlights the important role that tech companies play in the current economy. What are your thoughts on this? Do you think Nvidia's earnings will meet, exceed, or fall short of expectations? Share this article with your friends and let them know about the potential market impact of Nvidia's earnings. Don't forget to sign up for the Daily Briefing, which is delivered every day at 6pm.
US futures are flat as markets await the earnings release from Nvidia, a leading company in the global artificial intelligence industry. Nvidia's performance is seen as a barometer for AI spending across the technology sector. The company is expected to report a revenue growth of over 70% for the current quarter. Any disappointing results are likely to impact the markets, given Nvidia's significant role in US indexes.
In premarket trading, Nvidia remained flat, having rallied about 160% this year. Bank of America is down again, following Warren Buffett's continued reduction of his stake in the bank. Nordstrom rose 8.3% after the department-store chain issued a stronger-than-expected adjusted earnings-per-share outlook.
The Nvidia report and earnings guidance are seen as crucial at a time when markets are grappling with the possibility of a US recession and whether the Federal Reserve can cut interest rates fast enough to engineer a soft landing. Money markets currently price about 100 basis points worth of interest rate cuts this year, starting in September.
European stocks are solidly in the green, rising 0.6% and at the highest since mid-July, led by chemical and insurance names.
In FX, the dollar rose about 0.2% rising versus all its G-10 rivals except the Aussie which is flat after CPI topped estimates; the greenback is still on track for its steepest monthly decline this year, undermined by rate-cut bets.
In commodity markets, gold retreated $15 to around $2,509/oz, after a three-day advance that took it closer to its all-time high, while Brent crude futures shed 1%, adding to the previous day’s slide; WTI fell 0.9% to trade near $74.80.
Bitcoin fell below the $60,000 level as part of a broad crypto market retreat that included a sharp drop in second-largest token Ether.
The US economic data calendar is empty for the session; Fed speakers scheduled include Bostic at 6pm.
Bottom Line
As markets await the earnings release from Nvidia, it's clear that the company's performance could have a significant impact on the market. The anticipation highlights the important role that tech companies play in the current economy. What are your thoughts on this? Do you think Nvidia's earnings will meet, exceed, or fall short of expectations? Share this article with your friends and let them know about the potential market impact of Nvidia's earnings. Don't forget to sign up for the Daily Briefing, which is delivered every day at 6pm.
