{ }
Symbol NVDA
Name NVIDIA Corporation
Currency USD
Sector Information Technology
IndustryGroup Semiconductors & Semiconductor Equipment
Industry Semiconductors & Semiconductor Equipment
Market NASDAQ Global Select
Country United States
State CA
City Santa Clara
Zipcode 95051
Website http://www.nvidia.com
Global stocks gained momentum ahead of Nvidia's earnings report, with the company's shares up nearly 200% this year, significantly influencing the S&P 500's record highs. In Japan, BOJ Governor Kazuo Ueda hinted at potential rate hikes but provided no clear timeline, as the yen weakened against the dollar. Meanwhile, U.S. Treasury yields remained elevated amid expectations of less aggressive Federal Reserve rate cuts, with the dollar reaching a one-year high.
US stocks closed lower as investors reacted to hawkish comments from Fed Chair Jerome Powell, indicating no rush to cut interest rates. The Nasdaq 100 fell 3.4% for the week, while attention turns to Nvidia's upcoming earnings report, which could significantly impact tech stock sentiment.
IG
Samsung Electronics announced a surprise $7.19 billion stock buyback plan, causing shares to surge over 7% in Seoul. The company will repurchase 3 trillion won worth of shares in the next three months, with the remaining 7 trillion to be authorized by the Board to enhance shareholder value. This move follows a preliminary agreement with its largest workers union and comes after the stock hit a four-year low amid concerns over profit guidance and competition with SK Hynix in the high bandwidth memory market.
Nvidia's new Blackwell AI chips are experiencing overheating issues in server racks designed for up to 72 units, raising concerns among customers about the timely deployment of new data centers. The company has requested multiple design changes from suppliers to address these problems. A spokesperson stated that engineering iterations are a normal part of the process as Nvidia collaborates with leading cloud service providers.
U.S. markets ended the week lower, with the S&P 500 down 1.32% and the Nasdaq Composite tumbling 2.24%, amid concerns over potential trade policies from President-elect Trump. Meanwhile, shares of space companies surged, driven by positive earnings and the "Trump-Elon" trade. Investors are bracing for Nvidia's earnings this week, as they navigate the implications of Trump's policies on the market.
Stock futures opened slightly higher as Wall Street anticipates a significant earnings week, particularly from Nvidia on Wednesday. The Dow dipped 16 points, while S&P and Nasdaq futures saw minor gains. Concerns over interest rates persist, following comments from Federal Reserve Chair Jerome Powell, as the S&P 500 ended last week down 1.3%.
Nvidia has requested suppliers to modify the design of server racks for its new Blackwell graphics processing unit due to overheating issues, raising concerns about potential delays. These design changes have come late in the production process, although Nvidia has not yet informed customers of any delays.
Jim Cramer highlighted key earnings reports next week from Nvidia, TJX, and Walmart, advising caution amid market uncertainties. He suggested a small position in Vertiv and recommended waiting for pullbacks before investing in Walmart and Target, while expressing optimism for Medtronic and Viking Holdings. Cramer also noted potential sell-offs for Nvidia and Palo Alto Networks post-earnings, and indicated interest in Gap and Intuit, pending market conditions.
Wall Street anticipates Nvidia will play a crucial role in sustaining the market rally as it transitions from election-related trades in the upcoming week. Investors are closely watching Nvidia's performance to gauge its impact on market momentum.
Super Micro faces potential delisting from Nasdaq due to a late filing of its 2024 year-end report and ongoing compliance issues, including a history of financial misstatements. The company has until Monday to submit a compliance plan, which could grant it an extension of up to 180 days. However, its past compliance history may hinder its chances, as analysts express concerns about customer retention amid these challenges.
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