Dow ekes out another record as investors await Nvidia earnings

Published On Aug 27, 2024, 4:05 PM

US stocks experienced volatile trading, with the Dow Jones achieving another record close. Investor focus shifted to Nvidia's upcoming earnings report, which is highly anticipated due to Nvidia's impressive growth in the AI market. Despite Nvidia's stock experiencing a significant rise this year, there's concern whether it can meet elevated market expectations. Additionally, there are implications for semiconductor stocks if Nvidia's results do not perform as forecasted. Upcoming economic indicators, specifically inflation measures, may also influence investor sentiment, particularly regarding potential interest rate cuts from the Federal Reserve.

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Stock Forecasts

NVDAView NVDA chart on TradingView

Positive

Given Nvidia's growth trajectory and market position in AI, strong earnings are expected. This aligns with investor expectations and could further boost Nvidia's stock, as it is considered central to the AI ecosystem.

AAPLView AAPL chart on TradingView

Positive

Apple's stock might see minor fluctuations due to leadership change, but the real impacts will depend on their upcoming product launch.

PARAView PARA chart on TradingView

Negative

Investor caution surrounding Paramount's takeover situation may put negative pressure on its stock in the short-term as uncertainty continues.

SMCIView SMCI chart on TradingView

Negative

Super Micro's recent negative report from Hindenburg could lead to ongoing declines in its stock as investors react to the accounting concerns raised.

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