Nasdaq, S&P futures flat after Nvidia's results

Published On Aug 29, 2024, 5:26 AM

The Dow Jones Industrial Average reached a record high, fueled by strong U.S. economic data indicating robust consumer spending, which reduces recession fears. In contrast, Nvidia's stock fell over 6% due to a disappointing revenue forecast, which did not meet investors' heightened expectations. Other tech stocks showed mixed results with Apple rising 1.5% after being selected as a top pick for AI investments, and CrowdStrike gaining 2.8% after exceeding revenue estimates. Overall, the markets displayed cautious signs with expectations for potential interest rate cuts.

Read full article

Stock Forecasts

NVDAView NVDA chart on TradingView

Negative

With Nvidia’s disappointing forecast dragging its stock down, and considering the potential for further corrections in AI-related stocks, investors may want to be cautious with Nvidia. However, the overall tech sector still shows promise due to ongoing AI advancements and investments. Therefore, Nvidia is forecasted to face further downward pressures in the short term as investor confidence wavers.

AAPLView AAPL chart on TradingView

Positive

Due to recent positive analyst sentiments and rising interest in AI technology, Apple is poised for continued growth. The company’s involvement with OpenAI and its strong market position in AI solutions could boost its stock in the near term.

Related News

Nancy Tengler encourages investors to have a ‘longer-term perspective’ on Magnificent 7 stocks | Fox Business Video

Laffer Tengler CEO and CIO Nancy Tengler discusses investment opportunities and more on ‘Making Money.'

AAPL
MSFT
NVDA

Taiwanese Employees of Foxconn, the Apple Supplier, Detained in China

Oct 11, 2024, 2:24 AM

Taiwan’s government said that they had been accused of a breach of trust, but that their employer, Foxconn, had denied the company suffered any losses.

AAPL

China detains iPhone maker workers in 'strange' case

Oct 11, 2024, 12:20 AM

The Taiwanese government suggested the detentions may be a case of "abuse of power" by Chinese police.

AAPL