Global investors on edge ahead of Nvidia earnings
Business Standard|August 28, 2024
With Nvidia Corp.earnings just a day away and a heavy slate of US economic data scheduled for later in the week, there was little movement in markets on Tuesday.
Global investors on edge ahead of Nvidia earnings

US equity futures and the dollar were little changed, while Treasury yields inched up.

The stakes are high ahead of Nvidia, especially after an earnings season that showed disappointing results for other "Magnificent Seven" megacaps.

The upcoming reports on US economic growth, prices, personal spending and jobs are adding to the wait-and-see mood.

The heft of Nvidia, which has the second-biggest weighting in the S&P 500 after Apple Inc, and its heady valuation mean that it's susceptible to big swings that could reverberate widely.

Pricing in the options market shows that traders see the potential for an almost 10 per cent move in either direction after earnings, which would translate to roughly 160 points in the Nasdaq 100 Index, or a 0.8 per cent move, according to data compiled by Bloomberg.

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