Retail traders bullish, big money cautious ahead of Nvidia results
S&P 500, Nasdaq lower; Dow turns green
Tech biggest loser among S&P sectors; financials lead gainers
STOXX 600 up ~0.4%
Dollar up; gold, crude slide; bitcoin down >4%
10-year U.S. Treasury yield steady ~3.82%
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com.
RETAIL TRADERS BULLISH, BIG MONEY CAUTIOUS AHEAD OF NVIDIA RESULTS
Retail investors are showing bullish impulse towards U.S. tech stocks, while hedge funds and active equity mutual funds appear more cautious ahead of Nvidia NVDA.O results, according to a J.P.Morgan report.
Individual traders interest in Nvidia was evidenced by strong overall equity fund inflow especially in Nvidia-linked funds, including in VanEck Semiconductor ETF SMH.O which counts the dominant AI chip supplier as its top holding, and single stock leveraged ETFs linked to Nvidia NVDL.O, JPM strategists said.
Meanwhile, hedge funds appeared to have trimmed their Magnificent 7 and Nvidia exposure in second quarter and third quarter from the first quarter 2024 peak, the strategists added.
Active equity mutual fund managers funds hold modestly lower weights to the Magnificent 7 than passive funds, and they are more notably "underweight" Nvidia as well as Apple, according to JPM strategists.
Stakes are high heavyweight Nvidia's results, a bellwether for AI demand, with options pricing indicating a move of around 9.8% in the company's shares on Thursday, a day after it reports earnings.
"With markets being back in striking distance of all-time highs, the Nvidia report could serve as a pivotal moment for stocks as we head into September," said JJ Kinahan, chief executive officer of IG North America.
"With so much riding on what Nvidia has to say, it's very easy to see how markets could be facing a make-or-break moment, at least in the short term."
(Medha Singh)
*****
FOR WEDNESDAY'S EARLIER LIVE MARKETS POSTS
MORTGAGE RATES DIP FURTHER; SOME BORROWERS BITE CLICK HERE
INVESTORS STAND PAT ON NVIDIA DAY CLICK HERE
BUYING OPPORTUNITIES IN EUROPEAN BANK SHARES CLICK HERE
CONSENSUS IS FOR GOOD Q3 EUROPEAN EARNINGS BUT BAD Q4 CLICK HERE
DOLLAR CLOSE TO FAIR VALUE FOR THE FIRST TIME SINCE MARCH 2024 - BOFA CLICK HERE
INSURERS IN FOCUS CLICK HERE
NUDGING UP BEFORE THE BIG RESULTS CLICK HERE
MARKET HELD IN THRALL AHEAD OF NVIDIA NUMBERSCLICK HERE
Mortgage demand https://reut.rs/3yY9SoE
Housing stocks https://reut.rs/3T9tsVD
Mga Kaugnay na Asset
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
