-
Search Results
-
- Risk on day
- Â USD slipping, EURUSD pivoting 1.18, GBPUSD bid above 1.35, USDJPY off high but still above 156.29 breakout, AUDUSD outperforming after hotter CPI
- US stocks up, awaiting Nvidia earnings after the close
- XAUUSD pivoting 5200 after short-lived retracement’
- Crude oil lower after EIA data
- BTCUSD catching a bid back above 65K and trying to shift risk to 70K
- Crude oil lower after EIA data
Nvidia Q4 Earnings Today – Retail Says ‘Pressure Is Worse This Time’
Nvidia’s earnings come amid heightened scrutiny over whether AI-driven investment can maintain its breakneck pace.
Investors are expected to dissect details about Blackwell shipments and forward-looking commentary on Vera Rubin.
The stock saw a 25% increase in retail messages on Stocktwits over the last 24 hours.Â
Forex Market Snapshot
- The focus of forex attention is on the JPY, which has extended its slide, both vs. the dollar and on its crosses, most notably vs,. the AUD.
- Unlike yesterday, there did not seem to be a news catalyst for the fresh JpY selling.
- The dollar elsewhere is down a touch but off earlier lows.
- Looking ahead, there is an empty US calendar with the focus on Nvidia earnings after the close.
Feb 6 (Reuters) – Wall Street jumped on Friday and the Dow Jones Industrial Average hit a record 50,000 points, while Nvidia and other chipmakers soared and Amazon tumbled after the cloud heavyweight forecast a sharp increase in spending on AI infrastructure….
…Chip stocks rallied on expectations they would benefit from increased spending on AI data centers by Amazon and Alphabet….
US30 (DJIA) DAILY CHART
Intel stock jumps as Nvidia and Apple partner with Intel to diversify 2028 chip production. Nvidia and Apple reportedly use Intel’s 14A process and EMIB packaging for specific 2028 chip components to meet U.S. manufacturing mandates.
With a market capitalization of $219.43 billion, Intel operates within the technology sector as a major player in the semiconductors industry. Its current stock price of $43.93 reflects the company’s strong positioning in a highly competitive market.
Market Update: NAS100 pops higher on Nvidia
(Right click on image or any chart to open a full screen in a new tab)
FX option expiries for 8 January 10am New York cut
a large one for USD/JPY at the 156.15 level. The pair has been seeing a lot of pushing and pulling all through the week, largely holding between 156 to 157 since Tuesday. The latest dip today is no different, with markets taking on a defensive risk tone in general. Equities fell off yesterday and we’re seeing US futures dip further as Nvidia scrutiny in China continues to grow.
That puts some light downside pressure on the pair but we might not get all the way to the expiries seen above. There is still some support from the 200-hour moving average at 156.46 currently. But amid a further drop during the session ahead, the expiries could play a role in anchoring further declines in European morning trade at least.
There are also modestly large ones for EUR/USD at 1.1660 and AUD/USD at 0.6730. But all else being equal, they may not factor too much into play given a lack of technical significance alongside the prevailing risk mood.
Nvidia headline (from the FT) was behind the brief dip in US stocks
(Right click on image to open a full screen in a new tab)
Stocks get a reprieve from Nvidia
(Right click on image to open a full screen in a new tab)
US Stocks Extend Gains After PCE
US stocks extended gains on Friday, with the S&P 500 up 0.5%, the Nasdaq rising 0.6%, and the Dow Jones advancing about 220 points, after PCE inflation data came in roughly in line with expectations, reinforcing bets on another Fed rate cut next week.
Markets are pricing in roughly an 87% chance of a 25bps reduction.
Meanwhile, the Michigan consumer sentiment improved for the first time in five months and inflation expectations slowed.
Communication services and tech were the top performing sectors.
Megacaps were mostly higher, including Microsoft (0.4%), Amazon (0.7%), Alphabet (1.3%), Meta (0.7%), Broadcom (2.7%) and Tesla (0.4%) while Apple was little changed and Nvidia lost 0.2%.
US Stocks Close November Strong
US stocks ended November on a firm note with the final trading session seeing modest gains as the S&P 500 rose 0.5%, the Nasdaq gained 0.8% and the Dow added 0.6% in a post-Thanksgiving shortened session on Friday.
Risk appetite has returned with investors assigning roughly an 80% to 85% probability that the Fed delivers a rate cut within the next few weeks.
Communication services led the advance while healthcare lagged.
Large-cap tech was mixed with Microsoft up 1.3%, Amazon 1.8%, Meta 2.3%, Broadcom 1.4% and Tesla 0.8% while Nvidia slipped 1.8% and Alphabet was roughly flat.
Earlier a technical outage at the Chicago Mercantile Exchange briefly disrupted US futures after cooling systems failed at a Chicago area data centre, adding to intraday volatility.
For the month the S&P 500 was mostly flat, the Dow added 0.3% and the Nasdaq has lost 1.6%, ending a seven-month winning streak as investors reassess stretched AI valuations.
META Chart
Nvidia news
(Right click on image to open a full screen in a new tab)
Forex Market Snapshot
The dollar is trading mixed and consolidating as the market seems torn between a further shift in expectations in favor of no Fed rate cut in December and a cautious risk on mood (i.e. firmer stocks but off highs) following stellar Nvidia earnings eased concerns over an AI bubble.
- EURUSD holding above the pivotal 1.15 level (low 1.1510)
- USDJPY made a run towards 158 and then backed off (high 157.7&)
- GBPUSD found some support within a 1.3010-50 support zone (lpw 1.3038)
