… Wall Street is coming off a mixed week, characterized by a rotation out of tech and into other parts of the stock market.
The S&P 500 and Nasdaq Composite shed nearly 2% and 4.6%, respectively, with Nvidia and Alphabet losing more than 8% each. Meta Platforms, Apple and Amazon also dropped more than 4% each, while SpaceX tumbled 17%.
The Dow, which is less exposed to tech, bucked the negative trend with a 0.6% advance. Merck and Johnson & Johnson led the 30-stock benchmark higher last week, rising 13% and 11.5%, respectively.
“Investors seem to be experiencing AI Fatigue,” wrote Ed Yardeni, president of Yardeni Research. “They are questioning whether the hyperscalers’ massive spending on AI infrastructure will ever pay off. … They worry that new technologies will rapidly make current ones obsolete in a process known as ‘creative destruction.’”… truncated (CNBC)
NVDA
NVIDIA once again surpassed revenue expectations, however Wall Street is unimpressed by what could be considered a near-perfect quarter.
NVIDIA Corporation reported first-quarter revenue of $81.6 billion, up 85% year over year, led by Data Center sales of $75.25 billion, which jumped 92%. GAAP net income came in at $58.3 billion, with adjusted EPS of $1.87. The company generated approximately $48.6 billion in free cash flow and posted a gross margin of roughly 75%. NVIDIA expects second-quarter revenue of around $91 billion and announced an $80 billion share buyback authorization.
Nvidia Earnings Face AI Rally Test After 60% Chip Index Surge
Nvidia NVDA is heading into a high-stakes earnings report as investors look for confirmation that the AI semiconductor rally still has room to run. The company reports after Wednesday’s market close
Nvidia shares are up 18% in 2026 and 34% from their late-March low, despite losing 6.4% over the last three sessions.


COMING UP: Data: Chinese LPR (May), German PPI (Apr), UK Inflation Report (Apr), EU Inflation Final (Apr), New Zealand Trade Balance (Apr). Events: FOMC Minutes (Apr), BoJ Bond Market Survey (May).
Speakers: US President Trump; Fed’s Paulson, Barr; BoE’s Bailey, Breeden, Dhingra, Mann. Supply: Japan, Germany
,US. Earnings: Nvidia, Target, Intuit .
(Newsquawk)
Nvidia Corp Stocks – NVDA
NVIDIA Corp NVDA is expected to show a rise in quarterly revenue when it reports results on May 20 for the period ending April 30 2026.
Expected to post earnings of $1.76 a share
The current average analyst rating on the shares is “Buy” and the breakdown of recommendations is 57 “strong buy” or “buy,” 3 “hold” and 1 “sell” or “strong sell.

Today’s Market Minute (Reuters)
Nvidia Corporation stocks – NVDA
Nvidia just above 171.00 – very important support that separates it from entering lower channel with lower level at 99.75
There are many support levels of course, like 153.00, but strong Bullish sentiment would be lost and we are talking months if not years for Nvidia to return to current levels.

Today’s Market Minute
Oil prices fell early on Wednesday after the Iraqi government and Kurdish authorities reached a deal to resume oil exports via Turkey’s Ceyhan port. And with the Strait of Hormuz still effectively blocked, Gulf exporters are shifting flows to pipelines that bypass the strait.
Fed officials are expected to hold interest rates steady on Wednesday, and to outline how they feel the conflict with Iran has recast the U.S. economic outlook.
Nvidia has won Beijing’s approval to sell its second-most powerful artificial intelligence chips to China and is also preparing a version of the Groq AI chip that can be sold to the Chinese market, sources familiar with the matter said.
China’s quiet economic renaissance has gone largely unnoticed amid the Iran war, but it could strengthen Xi’s hand significantly when he meets Trump, argues ROI Markets Columnist Jamie McGeever.
As the Iran crisis drags on, check out ROI Global Energy Transition Columnist Gavin Maguire’s in-depth analysis of where Europe, the U.S. and China sit in terms of energy security. Unsurprisingly, the U.S. comes out on top. (Reuters)
Nvidia to Gain from Hyperscaler Spending; U.S. Export Rules Loom
Nvidia is poised to benefit from a rise in capital spending by hyperscalers, with data center and chip investments expected to reach $670 billion in 2026, up from $410 billion in 2025.1
The U.S. government plans new rules requiring Nvidia and others to get approval for most AI chip exports, which could affect global shipments and AI facility setups overseas.23
Wedbush raised its price target for Nvidia to $300 from $230 while maintaining an ‘Outperform’ rating, highlighting strong sales guidance for Q1 2027 as a key point from the company’s earnings call.

One Source of Strength in the Markets Today: Tech Stocks
Nvidia, Palantir and long-suffering Intuit were among the biggest gainers Monday as investors set aside tech fears.
While some traders spent the morning trying to digest the fallout of U.S. attacks on Iran over the weekend, others found value in tech. By lunchtime, the tech-heavy Nasdaq was up 0.3%, while the S&P 500 and Dow Jones Industrial Average were more or less flat.

I am dizzy waking up to these headlines
US-Iran meet ends with talk of progress but we have heard those words before
UK government loses a seat it had held for over 100 years but not to the Tories but to the Green party
Pakistan declares open war on Afghanistan and the Taliban
China encourages dollar buying to cool its riding currency
Tech shares concerns still simmer after reaction to stellar Nvidia earnings proved short lived
Nvidia Q4 revenue rises 73.2% to $68.13B – Shares down 4.3%
In spite of strong move up in Post trading last night, Nidia stocks were trashed today…
Investors focusing on the company’s guidance regarding chip demand, which may impact market trends.
Several financial firms have boosted their price targets for Nvidia (NVDA), with Rosenblatt and B of A Securities both raising theirs to $300, and Morgan Stanley adjusting to $260.

February 25 Post-Market Earnings Release Stocks
(NVDA) Nvidia’s Q4 revenue hit $68.1 billion, up 73% year-over-year, with adjusted EPS at $1.62. Data center revenue was $62.3 billion, and Q1 guidance is $78 billion.
(TTD) The Trade Desk’s board approved an extra $350 million for share buybacks, increasing the total to $500 million, as the stock fell over 70% in the past year due to slow growth.
(IONQ) IONQ Inc reported a quarterly adjusted loss of 20 cents per share, an improvement from a 93-cent loss last year, beating analysts’ expectations of a 33-cent loss.

Bi-polar equity market
2 days ago talk was all about ignoring the present and focusing on fear of the future (i.e. cost of AI investment and AI disruption).
The past two days it has flipped to a focus on the present (i.e. Nvidia earnings) andf ignoring the future.
Stocks currently backing off highs in early Asia.
NAS100 (NASDAQ) UPDATE
Nvidia earnings: Buy the rumor sell the fact or will there be a breakout?
NAS100 4 HOUR CHART

Nvidia, at the forefront of the AI revolution, is expected to post year-on-year earnings growth of 72.2% on revenue of $66.2 billion, according to analyst estimates compiled by LSEG, as the chipmaker continues to benefit from the rush to invest in AI-related infrastructure. The company’s shares were up 2.2% in anticipation of its quarterly report.
Reuters
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