US futures tread water with Nvidia, rate cuts in focus

Published On Aug 27, 2024, 6:22 AM

US stocks saw mixed trading on Tuesday but the Dow hit another record close, primarily due to speculation around Nvidia's upcoming earnings report. Investors are cautious as they await a critical inflation reading that could impact interest rate expectations. Nvidia's results are anticipated to have broader implications for the tech sector, particularly for AI stocks. Meanwhile, corporate news includes Apple's new CFO appointment and developments in Paramount's acquisition process.

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Stock Forecasts

NVDAView NVDA chart on TradingView

Positive

Nvidia's earnings report is expected to exceed high expectations, potentially boosting its stock due to strong demand in the AI market.

SMCIView SMCI chart on TradingView

Negative

Super Micro's allegations from Hindenburg Research may lead to continued stock price pressure as investor confidence shakes in light of accounting issues.

PARAView PARA chart on TradingView

Negative

Paramount's stock may remain under pressure due to the conclusion of the takeover bid, reducing speculation around its future ownership value.

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