Notable companies reporting before tomorrow’s open, with earnings consensus include
Walmart (WMT), consensus 53c… Lowe’s (LOW), consensus $2.81… Medtronic (MDT), consensus $1.25…
U.S. Equities Face Potential Pullback
Evercore ISI analysts warned on Monday that the U.S. equity market could see a 5% to 9% pullback in the near term. Factors contributing to this outlook include macroeconomic uncertainties and policy challenges.
While President-elect Donald Trump’s decisive victory initially buoyed equities, analysts note that post-election rallies often face headwinds once market participants turn their focus to potential policy implications.
Bullish Long-Term Outlook for the S&P 500
Despite short-term concerns, Goldman Sachs forecasts the S&P 500 index to reach 6,500 by the end of 2025. This outlook aligns with Morgan Stanley’s predictions, driven by expectations of continued U.S. economic growth and strong corporate earnings.
China Pledges Financial Market Reforms Amid Geopolitical Tensions
At the Global Financial Leaders’ Investment Summit, Chinese policymakers assured Wall Street executives that they remain committed to opening up their financial sector to foreign investors.
China also reaffirmed its support for Hong Kong as a global financial hub, despite economic challenges and heightened geopolitical tensions following Donald Trump’s election.
Oil Prices Hold Steady Amid Supply Disruptions
Oil prices remained flat on Tuesday after a rally driven by halted production at Norway’s Johan Sverdrup oilfield. Geopolitical concerns, including the ongoing Russia-Ukraine conflict, continue to weigh on market sentiment.
Nvidia’s Slower Growth in Focus
Nvidia (NASDAQ: NVDA) will report Q3 earnings on Wednesday, and analysts expect a sales increase of 82.8% year-over-year to $33.13 billion. However, this marks the slowest growth in six quarters, following a streak of sales doubling in the previous five quarters.
The company, central to the generative AI boom, faces challenges including supply chain issues and delays in rolling out its new Blackwell chips. Q4 growth is projected to slow further to 67.6%, making Nvidia’s performance a barometer for the broader AI trade.
Boeing Plans Major Layoffs Amid Debt Challenges
Boeing (NYSE: BA) announced plans to lay off over 2,500 workers across Washington, Oregon, South Carolina, and Missouri. This is part of a larger effort to reduce 17,000 jobs, or 10% of its global workforce, as the company struggles with debt management.
Bitcoin Near Record Highs
Bitcoin remains near recent record highs after MicroStrategy revealed additional purchases of the cryptocurrency. Optimism around potential regulatory relief under a second Donald Trump presidency is also supporting crypto prices.
Super Micro Computer Rallies After Nasdaq Compliance Plan
Super Micro Computer Inc shares surged 36% on Monday evening after the company appointed BDO USA as its auditor and submitted a compliance plan to Nasdaq. The company is seeking an extension to meet listing requirements.
$AMD- In a regulatory filing, Advanced Micro Devices disclosed that on November 15, Ms. Darla Smith informed AMD of her resignation as Corporate Vice President and Chief Accounting Officer of AMD. Effective November 18, Smith will cease serving as AMD’s Chief Accounting Officer and continue her employment as Corporate Vice President until January 17, 2025 to assist with transition matters. “Smith’s resignation is not the result of any dispute or disagreement with AMD, including with respect to any matters relating to AMD’s accounting practices or financial reporting. On November 13, 2024, the Board of Directors of AMD appointed Mr. Philip Carter, 46, as AMD’s Corporate Vice President, Chief Accounting Officer and principal accounting officer effective as of November 18, 2024. Mr. Carter previously served as Corporate Vice President, Chief Accounting Officer at Skyworks Solutions, Inc. where he had worked since February 2017.
$NVDA- Nvidia (NVDA) announced it is working with Google Quantum AI (GOOG) to accelerate the design of its next-generation quantum computing devices using simulations powered by the NVIDIA CUDA-Q platform. Google Quantum AI is using the hybrid quantum-classical computing platform and the NVIDIA Eos supercomputer to simulate the physics of its quantum processors. This will help overcome the current limitations of quantum computing hardware, which can only run a certain number of quantum operations before computations must cease, due to what researchers call “noise.” “The development of commercially useful quantum computers is only possible if we can scale up quantum hardware while keeping noise in check,” said Guifre Vidal, research scientist from Google Quantum AI. “Using NVIDIA accelerated computing, we’re exploring the noise implications of increasingly larger quantum chip designs.
During its SC24 Special Address in Atlanta, Nvidia (NVDA) announced a wave of AI and supercomputing tools set to revolutionize industries like biopharma and climate science. The announcements, delivered by Nvidia founder and CEO Jensen Huang and Vice President of Accelerated Computing Ian Buck, are rooted in the company’s deep history in transforming computing, the company said. “Supercomputers are among humanity’s most vital instruments, driving scientific breakthroughs and expanding the frontiers of knowledge,” Huang said. “Twenty-five years after creating the first GPU, we have reinvented computing and sparked a new industrial revolution.” Nvidia’s journey in accelerated computing began with CUDA in 2006 and the first GPU for scientific computing, Huang said. At SC24, Nvidia announced the new cuPyNumeric library, a GPU-accelerated implementation of NumPy, designed to supercharge applications in data science, machine learning and numerical computing. Nvidia also unveiled the NVIDIA Omniverse Blueprint for real-time computer-aided engineering digital twins, a reference workflow designed to help developers create interactive digital twins for industries like aerospace, automotive, energy and manufacturing. In addition, in partnership with Google (GOOG), Nvidia’s CUDA-Q now powers detailed dynamical simulations of quantum processors, reducing weeks-long calculations to minutes. With the open-source release of BioNeMo Framework, NVIDIA is advancing AI-driven drug discovery as researchers gain powerful tools tailored specifically for pharmaceutical applications. The company also announced two new microservices – CorrDiff NIM and FourCastNet NIM – to accelerate climate change modeling and simulation results by up to 500x in the NVIDIA Earth-2 platform. As demand for AI systems like the Blackwell supercomputer grows, NVIDIA is scaling production through new Foxconn facilities in the U.S., Mexico and Taiwan. NVIDIA also announced the general availability of the NVIDIA H200 NVL, a PCIe GPU based on the NVIDIA Hopper architecture optimized for low-power, air-cooled data centers.
$NFLX- Wedbush analyst Alicia Reese raised the firm’s price target on Netflix to $950 from $800 and kept an Outperform rating on the shares following the Mike Tyson versus Jake Paul boxing match. Netflix’s fight night “underscored its massive opportunity in live sports,” the analyst tells investors in a research note. The firm thinks the company is positioned to accelerate its advertising tier revenue growth contributing for the next several years, as it adds more live events, improves its advertising solutions and targeting, and utilizes new partnerships. It expects the ad tier to become Netflix’s primary revenue growth driver in 2026. Netflix has “reached the right formula with global content creation, balancing costs, and increasing profitability, contends Wedbush. The stock in afternoon trading is up 2%, or $20.18, to $844.15.
$DIS- Seaport Research raised the firm’s price target on Disney to $127 from $108 and keeps a Buy rating on the shares. The firm raised its price target on the stock as confidence builds in the company’s direct-to-consumer strategy and experiences growth, the analyst tells investors.
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