Nvidia Corp

U.S. stocks are set for a stronger open as traders return from the Juneteenth public holiday, digest softer-than-expected US jobless claims, and Nvidia extends its impressive rally. Jobless claims were virtually unchanged from last week's 9-month high, which combined with weaker retail sales earlier in the week, point to a softening in the economy, which could see the Fed cut rates sooner.

US technology stocks extended their gains shortly after the open on Wall Street, helping the Nasdaq 100 to add to Wednesday's surge to new record highs, before pulling back slightly on profit-taking ahead of Friday’s key US jobs report.

US stocks point to a stronger open, with the S&P 500 and the Nasdaq100 set to reach record highs after Nvidia earnings smash forecasts, fueling an AI chip stock rally. The impressive earnings have overshadowed hawkish FOMC minutes, which showed policymakers were concerned about sticky inflation, and some even supported raising rates. Jobless claims were stronger than expected, consistent with a solid labour market. PMI data is up next.

Nvidia is expected to report $5.18 in EPS on $22.9B in revenue, but the company’s outlook for the rest of the year will be even more significant for the Nasdaq 100 as a whole.

US stocks are heading for a weaker open as investors look cautiously ahead to the release of the minutes to the January FOMC meeting and to Nvidia earnings after the close. Investors will be looking to see whether the minutes push back on rate be expectations and whether Nvidia, the AI chipmaking giant can live up to the hype surrounding its stock and a future with AI.

Options traders expect a +/- 11% move in response to Nvidia’s earnings report, a truly staggering move in a $1.8T stock. See what we're watching!

With near-term earnings risk now accounted for among the ‘magnificent seven’, it means macroeconomic and bond market movements will likely dictate how the Nasdaq 100 closes out 2023.

As things stand, the Nasdaq 100 is on track for its worst month since December. And unless it can rally 4.4% or more over the next three days, it will snap a 5-month bullish streak.

AI has driven markets higher in the first half, but what will happen in the second?

Nvidia (NVDA) remains the best performer of the Nasdaq with a YTD gain of ~170%, yet a classic technical price signal suggests there could be further gains to follow as the year progresses.

NVIDIA is on course to hit a $1 trillion valuation as artificial intelligence provides fresh momentum for the best performer in the S&P 500 this year.

NVIDIA will have to impress the markets if it wants to maintain its lofty valuation that is underpinned by high expectations around AI.

Nvidia (NVDA) has been a top performer in the Nasdaq 100 this year thanks to a weaker dollar and rise of AI. But can it retain its lead?

The Nasdaq 100 is testing 7-month highs and NVIDIA is set to book its biggest quarterly gain since 2001.

Just seven companies make up over half of the Nasdaq 100.

Can a new wave of spending on artificial intelligence help revive slower growth from NVIDIA’s core datacentre operation?

Nvidia (NVDA) shares may have rallied 2.7% after their Q3 earnings report, but we’re less convinced it can break above a strong resistance area (initially at least).