Analysis:Investors look to AI-darling Nvidia's earnings as US stocks rally wobbles

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 66%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

NEW YORK : Bullish investors are hoping Wednesday's earnings report from chip heavyweight Nvidia can rejuvenate a U.S. stocks rally that has stumbled in recent weeks.Nvidia shares have tripled in 2023, underscoring how a rebound in megacap stocks and excitement over the business potential of artificial in

NEW YORK : Bullish investors are hoping Wednesday's earnings report from chip heavyweight Nvidia can rejuvenate a U.S. stocks rally that has stumbled in recent weeks.

Yet the broader equity rally has recently faltered, with the benchmark index off more than 4 per cent in August as soaring Treasury yields threaten to dull the allure of stocks. The market's turbulence is intensifying focus on Nvidia's fiscal second quarter report, due after market close on Wednesday.

Some investors may already be placing bets on a repeat strong performance: Nvidia shares have jumped nearly 12 per cent since the start of last week, setting an all-time high on Tuesday before retreating. Such buildup in the shares, however, could make it more difficult for the company to surpass investor expectations with its Wednesday report.

Nvidia shares amount to the fifth-biggest weight in the S&P 500 and Nasdaq 100, at weights of 3.2 per cent and 4.3 per cent, respectively - meaning that moves in its stock price have an outsized sway on major indexes.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nvidia options show traders positioned for outsized share move after earningsNEW YORK : Traders in the U.S. equity options market are expecting a larger-than-usual swing in Nvidia's shares following the chipmaker's quarterly results after the close on Wednesday, options market data showed.Nvidia options imply a nearly 11 per cent swing for the shares, in either direction, by Frida
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »