Nvidia on tap as US earnings season draws to a close
All three major U.S. stock indexes red; Nasdaq down >1%
Tech biggest loser among S&P sectors; Utilities lead gainers
Dollar up; gold, crude slide; bitcoin down >4%
10-year U.S. Treasury yield steady ~3.84%
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.
NVIDIA ON TAP AS US EARNINGS SEASON DRAWS TO A CLOSE
While the second-quarter U.S. earnings season is essentially over, investors are still awaiting one critical report: AI chipmaker Nvidia's NVDA.O results due after the closing bell.
S&P 500 earnings for the quarter now are estimated to have increased 12.7% year over year, according to LSEG data as of Friday.
That estimate is up from 10.6% on July 1, and is based on results from 477 of the S&P 500 companies and forecasts for the rest.
Investors may be especially nervous about Nvidia after its long run of sharp gains. The stock is off about 2% on Wednesday, with the Nasdaq .IXIC down more than 1% in afternoon trading. But Nvidia is still up more than 150% for the year to date.
Nick Raich, CEO of The Earnings Scout, wrote in a note early Wednesday about the tech leader: "Its stock price has surged +2,989% over the past five years. Our research suggests it might be time to lock in some of those gains, as NVIDIA’s strong EPS revision momentum has slowed over the past four quarters."
Overall, the technology sector's .SPLRCT results have improved since the start of the season. Its blended earnings growth estimate has jumped to 19.8% as of Friday from 16.9% on July 1, based on LSEG data.
The season has been marked by some disappointments, however, and estimated earnings growth for the communication services sector .SPLRCL, for one, has fallen to 7.4% as of Friday from 21.7% on July 1.
(Caroline Valetkevitch)
*****
FOR WEDNESDAY'S EARLIER LIVE MARKETS POSTS:
TREASURY DEBT DELUGE CAPITALIZES ON FED EASING OUTLOOKCLICK HERE
RETAIL TRADERS BULLISH, BIG MONEY CAUTIOUS AHEAD OF NVIDIA RESULTS CLICK HERE
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
Apollo chart on US debt servicing costs as a share of govt outlays https://tmsnrt.rs/471XIYo
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.