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As the US election approaches, market uncertainty persists, with polls showing fluctuating support for candidates. Following the election, fundamentals are expected to drive market direction, supported by a sustainable economic expansion and anticipated Federal Reserve rate cuts. Tech earnings, particularly in AI, are projected to bolster growth, with the S&P 500 forecasted to reach 6,600 by the end of 2025.
In the lead-up to the U.S. presidential election, Donald Trump claims several Silicon Valley CEOs, including Google’s Sundar Pichai, Apple’s Tim Cook, and Meta’s Mark Zuckerberg, have reached out to him, expressing support after a recent assassination attempt. Elon Musk has notably endorsed Trump and become a significant donor, while Jeff Bezos also reportedly contacted Trump despite their contentious history. These interactions suggest a shift in the tech leaders' approach as they prepare for a potential Trump victory.
The upcoming trading week is set to be influenced by the US presidential election and the labor market report, with key economic data releases including the JOLTS report and non-farm payrolls. German GDP growth figures and inflation data from the eurozone will also be closely monitored, alongside significant earnings reports from major companies like Alphabet, Meta, and Amazon. Traders are advised to consider knock-out certificates for potential market movements.
At HLTH 2024, key trends emerged, including a shift in AI discussions towards practical applications and regulatory challenges, highlighting the need for reliable partnerships in healthcare technology. The focus on "unsexy" infrastructure work underscores the importance of data accessibility and interoperability. Women's health gained attention with significant federal funding, yet investment remains low compared to overall healthcare funding.
Nvidia Corp. is poised for a critical week as earnings reports from major clients like Microsoft, Alphabet, Amazon, and Meta are set to influence its stock, which is near an all-time high due to AI optimism. These companies represented over 40% of Nvidia's sales in the second quarter, making their capital spending insights vital for assessing demand for Nvidia's AI-focused chips.
This week is pivotal for Wall Street as GAFAM tech giants report earnings, starting with Alphabet on Tuesday, followed by Microsoft, Meta, Apple, and Amazon. Employment figures, including the JOLTS and ADP reports, will also be released, with potential impacts on market confidence amid economic challenges from strikes and hurricanes. The Nasdaq 100's outlook remains positive, but a drop below 20,000 points could signal a shift, with key support at 19,000 points.
This week is pivotal for the Nasdaq 100 as it awaits results from major tech companies, including Alphabet, Microsoft, Meta, Apple, and Amazon, alongside crucial employment reports. The outlook remains positive, with potential gains if employment figures exceed expectations, despite challenges from rising bond yields and recent economic disruptions. A bullish trend is indicated, with key levels set at 20,750 points for potential upward movement, while a drop below 20,000 could signal a retracement.
The Nasdaq Composite reached an all-time high, closing the week up 0.2%, while the S&P 500 and Dow Jones snapped their six-week winning streaks due to disappointing earnings from major companies. Japan's ruling coalition lost its parliamentary majority, contributing to a weaker yen, while China's industrial profits plummeted 27.1%, marking the steepest decline since the pandemic began. Oil prices fell over 4% amid geopolitical tensions, and investors are looking ahead to a busy week of earnings reports and economic data.
UBS has increased its price target for Amazon from $220 to $223, maintaining a "Buy" rating. Analyst Stephen Ju has shifted the valuation approach to focus on cash inflows rather than the sum of the group's parts, and has updated the valuation basis by one quarter ahead of the interim report.
UBS has raised its price target for Amazon from $220 to $223, maintaining a "Buy" rating. Analyst Stephen Ju has shifted the valuation approach to focus on cash inflows, reflecting updates in Amazon's model that account for costs related to Kuiper and sports licenses.
Amazon.com, Inc.
Companies
| Symbol | AMZN |
| Name | Amazon.com, Inc. |
| Currency | USD |
| Sector | Consumer Discretionary |
| IndustryGroup | Retailing |
| Industry | Internet & Direct Marketing Retail |
| Market | NASDAQ Global Select |
| Country | United States |
| State | WA |
| City | Seattle |
| Zipcode | 98109-5210 |
| Website | http://www.amazon.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
fundamentals expected to drive markets post us election amid economic strength
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14:24 29.10.2024
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ubs raises amazon price target to 223 dollars maintains buy rating
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ubs raises amazon price target to 223 dollars maintains buy rating
07:54 28.10.2024
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