Stock futures open little changed as traders await Nvidia earnings: Live updates

Published On Nov 17, 2024, 6:05 PM

Traders are cautiously optimistic as stock futures opened slightly higher ahead of a significant week of earnings announcements, including those from Nvidia and major retailers. After a challenging previous week for market indices, focus is now centered on Nvidia's earnings, expected to offer insights into demand for its AI chips. The market is also reacting to Federal Reserve comments regarding interest rates, with expectations for higher rates influencing investor sentiment.

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Stock Forecasts

NVDAView NVDA chart on TradingView

Positive

Nvidia's upcoming earnings are likely to set the tone for tech stocks. If Nvidia reports strong demand for its Blackwell AI chips, it could boost investor sentiment towards the technology sector, possibly leading to a positive reaction in associated stocks.

XLPView XLP chart on TradingView

Negative

Given the cautious market sentiment influenced by recent Fed remarks, stocks tied to interest rates and economic growth could see pressure. The anticipated focus on other retailers may dampen investor enthusiasm if they do not meet earnings expectations.

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