Market Highlights π‘ - 21 November 2024
Ahead of Nvidia's earnings report, U.S. markets mixed; Asian markets rise on bargain-buying activity
πΊπΈ S&P 500 Index: 0.01% π
πΊπΈ Nasdaq: -0.11% π
πͺπΊ Stoxx 600 Index: -0.02% π
π―π΅ Nikkei 225 Index: -0.16% π
ππ° Hang Seng Index: 0.21% π
π¨π³ CSI 300 Index: 0.22% π
πΈπ¬ Straits Times Index: -0.19% π
Wednesday's U.S. Markets saw mixed results: The S&P 500 closed flat at 0.0%, while the Nasdaq Composite dropped -0.1%. Investors were under pressure from rising tensions between Russia and Ukraine, as well as weak earnings from Target, while awaiting Nvidia's earnings report after market close, causing a temporary pause.
Asia-Pacific Markets closed higher: The Hong Kong Hang Seng Index and China's CSI 300 Index both gained 0.2%, following comments from Howard Marks that China's stock market offers investment opportunities and cheap stocks, providing reassurance to investors anxious about China's economic growth prospects.
China maintained its benchmark lending rate: The one-year LPR remains at 3.1%, and the five-year LPR stays at 3.6%. Last month, banks had cut rates more than expected to stimulate economic activity.
π‘ Upcoming Events π‘
Thursday: The U.S. will release weekly jobless claims and the Philadelphia Fed Manufacturing Index.
Friday: The U.S. will release preliminary manufacturing and services PMI; Europe will release preliminary manufacturing and services PMI; Japan will release national core CPI YoY.
π‘ Things to Know Today π‘
1. A group of Democratic Senators urged U.S. vehicle regulators to speed up the implementation of new vehicle safety regulations, citing that traffic-related deaths remain significantly higher than pre-pandemic levels.
2. President-elect Donald Trump pledged that upon taking office in January, he would make tariffs and tax cuts a central part of his economic agenda. $TRUMP MEDIA & TECHNOLOGY GROUP CORP(DJT)$
Donald Trump
3. Target's $Target(TGT)$
Target
4. Tech giant Apple $Apple(AAPL)$
Apple CEO visit to India
5. Nvidia's $NVIDIA Corp(NVDA)$
Nvidia
β Key Takeaways:
After a strong rebound in growth and tech stocks yesterday, the stock market today appears more cautious.
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Here are some news articles related to Nvidia's earnings report:
NVIDIA Reports Strong Earnings, $5 Trillion Market Cap Within Reach!: This article highlights Nvidia's strong earnings report and discusses the potential for the company to reach a market cap of $5 trillion.
Stock market today: Asian shares mostly slip despite Nvidia's solid earnings report: The article mentions that while Nvidia's earnings report exceeded expectations, Asian markets were mostly lower due to concerns about the company's lower profit forecasts.
NVDA: Huge Potential to Buy!: This article discusses the potential for investors to buy Nvidia stock, highlighting the company's growth prospects and market position.
Nvidia earning report: This article provides an overview of Nvidia's earnings report.
Nvidia Forecast Fails to Meet Loftiest Estimates for AI Star: The article mentions that Nvidia's revenue forecast for the fiscal fourth quarter fell short of the highest expectations, indicating the limits of its AI-fueled growth.
Nvidia stock rises on AI spending, chip deal ahead of earnings: This article discusses the rise in Nvidia's stock price ahead of its earnings report, citing bullish notes from analysts and news of a chip deal with cloud provider Nebius Group.
Please note that these articles provide a range of perspectives on Nvidia's earnings report. For more comprehensive information, you may want to visit the stock quote page or refer to reputable financial news sources.