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☆ Volatility, higher rates, and surging bitcoin. Here's what analysts are saying about Trump's victory.
▼ + stars: | 2024-11-06 | by ( Will Martin | ) www.businessinsider.com time to read: +3 min

Analysts expect Trump's economic policies to increase inflation, and push interest rates higher. AdvertisementDonald Trump's victory is set to herald a new era of higher inflation, tighter monetary policy, and surging cryptocurrencies, analysts said in initial reactions to the presidential election result. The economic impact of Trump's second term is likely to be volatile, said Lindsay James, investment strategist at UK-based Quilter Investments. However, such cuts could be shortlived if Trump's trade policies, which include proposed near-universal tariffs, prove to be inflationary as expected. Bitcoin could hit $100,000One asset that analysts expect to surge in the wake of Trump's victory is bitcoin, which rallied sharply early on Wednesday morning.

Persons: Donald Trump, —, Donald Trump's, Lindsay James, Elon Musk, Thomas Matthews, Trump, Russ Mould, AJ Bell Organizations: Service, Investments, Federal Reserve, Capital Economics, Rabobank, White

☆ Even Warren Buffett thinks his stock is too expensive
▼ + stars: | 2024-11-05 | by ( John Towfighi | ) edition.cnn.com time to read: +3 min

CNN —Warren Buffett’s Berkshire Hathaway has over $325 billion in cash on hand. Berkshire Hathaway was a net seller of stocks across its portfolio that quarter and grew its cash-on-hand to record amounts. Berkshire Hathaway’s actions signal to investors that its stock might be overvalued, Cathy Seifert, an analyst at CFRA Research, told CNN. Buffett will repurchase shares when he thinks the price is “below Berkshire’s intrinsic value, conservatively determined,” according to Berkshire Hathaway’s regulatory filings. “All this suggests that Buffett has serious concerns about the economic backdrop and the current state of the stock market,” Mould said in a note.

Persons: CNN — Warren, Berkshire Hathaway, Buffett, Cathy Seifert, they’re, ’ ” Seifert, He’s, ” Robert Korajczyk, Aswath, “, ” Damodaran, “ They’ve, Russ Mould, AJ Bell, ” Mould, ” Korajczyk Organizations: CNN, Berkshire, Securities, Exchange, CFRA Research, Buffett, Berkshire Hathaway’s, Northwestern’s Kellogg School of Management, NYU Stern School of Business Locations: Berkshire, “, ”, —

☆ Warren Buffett's Berkshire Hathaway hoarded cash, sold stocks, and halted buybacks ahead of the election
▼ + stars: | 2024-11-04 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Warren Buffett signaled in Berkshire Hathaway's third-quarter earnings that he was being cautious. The investor built a record cash pile, slashed his two biggest stock bets, and halted buybacks. The legendary investor and his team sold $36 billion of shares and only made purchases worth $1.5 billion, marking their eighth straight quarter as net sellers. Related storiesNotably, Berkshire pared its bets on Apple and Bank of America, its two largest stock positions going into the quarter. Buffett has said that buybacks only make financial sense when a stock is trading at a discount to its intrinsic value.

Persons: Warren Buffett, —, Donald Trump, Kamala Harris, he's, Trump, aren't, Bershire, Buffett, Russ Mould, AJ, Mould Organizations: Berkshire Hathaway's, Service, Treasury, Apple, Bank of America Locations: Berkshire, payables

☆ Nvidia overtakes Apple as world’s most valuable company
▼ + stars: | 2024-10-26 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +4 min

Nvidia dethroned Apple as the world’s most valuable company on Friday following a record-setting rally in the stock, powered by insatiable demand for its specialized artificial intelligence chips. Nvidia’s stock market value briefly touched $3.53 trillion, slightly above Apple’s $3.52 trillion, LSEG data showed. Nvidia ended the day up 0.8%, with a market value of $3.47 trillion, while Apple’s shares rose 0.4%, valuing the iPhone maker at $3.52 trillion. In June, Nvidia briefly became the world’s most valuable company before it was overtaken by Microsoft and Apple. Shares of Nvidia, Apple and Microsoft have an outsized influence on the richly valued technology sector as well as the broader U.S. stock market, with the trio accounting for about a fifth of the S&P 500 index’s weight.

Persons: OpenAI, ”, Russ Mould, AJ Bell, ” Nvidia’s, TSMC, Rick Meckler, “ Organizations: Nvidia, Apple, Microsoft, Western Digital, ”, chipmaker, Huawei, Federal Reserve, Cherry Lane Investments Locations: United States, China, New Vernon , New Jersey

☆ Raspberry Pi London IPO: Why investors are going gaga over a tiny, $35 computer
▼ + stars: | 2024-06-11 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Investors are snapping up the shares of a British maker of tiny computers after it went public on the London Stock Exchange Tuesday. Raspberry Pi stock soared as much as 40% in early trade before paring those gains slightly by 11.54 a.m. The Cambridge-based company started life in 2012 as a commercial subsidiary of the Raspberry Pi Foundation, a charity founded four years earlier to promote computer science in schools. To date, Raspberry Pi has sold more than 60 million computers worldwide, according to its website. Raspberry Pi plans to invest the funds raised in developing its products and expanding its educational activities.

Persons: Pi, Eben Upton, “ It’s, ” Russ Mould, AJ Bell, haven’t, ” Organizations: London CNN —, London Stock Exchange, Pi, Pi Foundation, Industrial, University of Cambridge, Nasdaq, Cambridge University, Sony, SONY, CNN Locations: British, Cambridge, New York, London

☆ Alphabet stock surges 11% on blowout earnings and first dividend for Google owner
▼ + stars: | 2024-04-26 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Alphabet shares surged in Friday's premarket after a blowout earnings report for the Google owner. AdvertisementAlphabet stock surged ahead of Friday's opening bell as investors cheered the Google owner's blowout first-quarter earnings. If those gains hold until the opening bell, its valuation will top $2 trillion for the first time. Meanwhile, Microsoft stock made more modest gains after it reported first-quarter earnings on Thursday afternoon. Shares were up almost in pre-market trading, putting its market capitalization on course to jump about $11 billion at the opening bell back above $3 trillion.

Persons: —, AJ Bell, Russ Mould, Amy Hood, hadn't, OpenAI, Sophie Lund, Yates, Hargreaves Lansdown Organizations: Google, Microsoft, Nasdaq, Big Tech, Service, Apple Locations: Friday's

☆ Meta shares plunge as Mark Zuckerberg's AI push spooks investors
▼ + stars: | 2024-04-25 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Meta shares plunged as much as 15% in premarket trading, dragging US futures lower. Investors weren't convinced by Mark Zuckerberg's plan to keep spending tens of billions on AI. AdvertisementMeta stock plunged in premarket trading on Thursday as investors fretted that Mark Zuckerberg's artificial intelligence push will send costs skyrocketing. The losses came after Meta reported its earnings for the first three months of the year on Wednesday. Zuckerberg's previous pledge to keep costs low during a "year of efficiency" has helped Meta's stock to rally since the start of 2023.

Persons: weren't, Mark Zuckerberg's, Meta, —, Refinitiv, Zuckerberg, Russ Mould, AJ Bell, Mark Zuckerberg Organizations: Service, Meta, Microsoft Locations: Wednesday's

☆ Nvidia is 'jet fuel' for the stock market, say Wall Street analysts
▼ + stars: | 2024-02-22 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

The stock surged 14% in premarket trading, putting it on course to boost its value by $240 billion. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementHere's how analysts are reacting to Nvidia's latest report. Advertisement"This was a 'game-changing moment' for the tech bulls and puts jet fuel in the tech bull market thesis," he added.

Persons: —, it's, Jensen Huang, Kathleen Brooks, XTB, we've, Brooks, hadn't, Dan Ives, AI Jensen, Ives, Jason Hollands, Hollands, Russ Mould, AJ Bell, Mould Organizations: Nvidia, Service, Nikkei, Big Tech Locations: Europe, Bestinvest

After apologizing for his post at the event on Wednesday, Musk unleashed a profanity-laced tirade against some of the advertisers for fleeing the platform. The Tesla (TSLA.O) chief acknowledged that an extended boycott by advertisers could bankrupt X, formerly Twitter, but suggested that the public would blame the brands and not him for a potential collapse. "We believe there is risk that more companies will stop advertising on X; at least on a short-term basis," D.A. Monthly U.S. ad revenue at X has declined at least 55% year-over-year each month since Musk bought the company in October 2022, Reuters reported last month. "Musk has stated that Twitter is worth a lot lesser than the $44 billion he had paid for it.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Elon, Walt Disney, Musk, D.A, Tom Forte, Russ Mould, AJ Bell, Chavi Mehta, Jaspreet Singh, Aby Jose Koilparambil, Anil D'Silva Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, REUTERS, New York Times, Warner Bros ., Davidson &, U.S, X, Reuters, Thomson Locations: Paris, France, Bengaluru

All eyes are now on the personal consumption expenditure (PCE) index- the Fed's preferred inflation gauge- for October, due at 8:30 a.m. ET, which is expected to show inflation eased in the previous month. The PCE index is expected to rise 0.1% on a monthly basis in October, moderating from a 0.4% increase in September. Data cloud company Snowflake (SNOW.N) added 8.2% after it forecast fourth-quarter product revenue above Street estimates on artificial intelligence driven demand. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Caitlin Ochs, Russ Mould, AJ Bell, Jefferies, Shristi Achar, Shinjini Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Wall, Federal Reserve, Dow e, Ford Motor, Inc, Thomson Locations: New York City, U.S, Chicago, Bengaluru

The startup's newly appointed interim head moved quickly to dismiss speculation that OpenAI's board ousted Altman due to a spat over the safety of powerful AI models. It was not clear why Murati had stepped down as interim CEO. [1/4]Sam Altman, CEO of OpenAI, attends the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. Some of those joining Altman at Microsoft include senior researchers Szymon Sidor and Jakub Pachocki, according to Brockman. Microsoft had supported a return by Altman to the startup, according to sources, a move that seemed likely only hours prior to Monday's announcements.

Persons: OpenAI, Emmett Shear, Sam Altman, Greg Brockman, OpenAI's, Altman, Shear, Ilya Sutskever, we've, Sutskever, Mira Murati, reinstates Altman, Brockman, Bret Taylor, Will Hurd, Murati, Carlos Barria, Richard Windsor, Satya Nadella, Szymon Sidor, Jakub Pachocki, Russ Mould, AJ Bell, Nadella, Jeffry Dastin, Anna Tong, Krystal Hu, Akash Sriram, Aditya Soni, Urvi, Shubham, Stephanie Kelly, Nivedita Bhattacharjee, Miyoung Kim, Sam Holmes, Susan Fenton, Chizu Nomiyama, Anil D'Silva Organizations: Microsoft, FRANCISCO, Google, OpenAI, Reuters, Economic Cooperation, REUTERS, Radio Free Mobile, Thomson Locations: OpenAI, Texas, Asia, San Francisco , California, U.S, San Franciso, New York, Bengaluru

☆ Wind Power Write-Downs Cast Shadow Over Industry Outlook
▼ + stars: | 2023-11-01 | by ( Giulia Petroni | ) www.wsj.com time to read: +5 min

Wind-power developer Orsted scrapped projects in New Jersey citing supply-chain problems and high interest rates. Orsted , BP and Equinor have collectively written off $4.8 billion against U.S. offshore wind projects in recent days. Equinor, BP’s partner on the Empire Wind and Beacon Wind projects, booked an impairment of around $300 million on its U.S. portfolio. Utility Dominion Energy on Tuesday received a key federal approval for its 2.6-gigawatt offshore wind project in Virginia. And Orsted confirmed its final investment decision into Revolution Wind, an offshore 704-megawatt project in Connecticut and Rhode Island.

Persons: Wayne Parry, Orsted, Mads Nipper, henning bagger, ”, Phil Murphy ’, Martin Tessier, Stifel ’, —, Engie, Vattenfall, Russ Mould, AJ Bell, Dominic, Giulia Petroni Organizations: Associated, U.S, Agence France, Republicans, Democratic Gov, ”, BP, Iberdrola, Shell, Business, Siemens Energy, Dominion Energy, giulia.petroni@wsj.com Locations: New Jersey, U.S, Danish, New York, Connecticut, Massachusetts, Swedish, Norfolk, Virginia, Rhode Island, Asia Pacific, Europe

☆ WeWork’s shares plunge 37% on bankruptcy reports
▼ + stars: | 2023-11-01 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —WeWork’s shares plunged 37% in pre-market trading Wednesday, following news reports that the beleaguered company plans to file for bankruptcy as early as next week as its losses mount. The SoftBank-backed flexible workspace provider is considering filing for Chapter 11 bankruptcy protection in New Jersey, the Wall Street Journal and Reuters reported Tuesday, citing people familiar with the matter. A bankruptcy filing would mark a spectacular reversal of fortunes for a company valued at $47 billion in 2019. The company’s demise has been years in the making, after it struggled to recover from a botched IPO in 2019. At the time, listing paperwork revealed larger-than-expected losses and potential conflicts of interest related to the company’s founder and then-CEO Adam Neumann.

Persons: London CNN —, ”, Russ Mould, AJ Bell, “, SoftBank, Adam Neumann, WeWork Organizations: London CNN, Wall Street Journal, Reuters, CNN Locations: New Jersey

☆ Aston Martin shares plunge on volume target cut, lingering debt
▼ + stars: | 2023-11-01 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Company shares had plunged by as much as 20% in earlier trade. Aston Martin reported an adjusted operating loss of £48.4 million ($58.8 million) for the three months to the end of September and a net revenue of £362.1 million, below a company-compiled consensus of £370 million. "The DB12 production ramp up was temporarily affected as supplier readiness and integration of the new EE platform that supports the fully redeveloped infotainment system was delayed," Aston Martin said in its earnings report on Wednesday. Aston Martin Executive Chairman Lawrence Stroll said the launch of the DB12 has seen "extraordinary demand" and is bringing in new customers, with 55% of initial DB12 buyers new to the brand. "With the shares trading at a tenth of the level at which they listed in 2018, the optimistic comparisons Aston Martin made for itself with Italian rival Ferrari look as fanciful as they ever did."

Persons: Aston Martin, Lawrence, Aston, Russ Mould, AJ Bell, Aston Martin's, " Mould, Ferrari Organizations: Company, Aston, Aston Martin, Saudi Arabia's Public Investment Fund Locations: London

☆ UK transport group Mobico's shares hit record low on profit warning
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

SummaryCompanies Cuts annual profit forecastSuspends dividendsShares fall to record lowOct 12 (Reuters) - Mobico's (MCG.L) shares fell by a third to a record low on Thursday after the British transport company cut its annual profit forecast and suspended dividends, as high costs hit the group's efforts to improve profitability. The company, which changed its name from National Express to Mobico earlier this year, said it was planning to sell its North America school bus business in early 2024 to cut debt. The company was hit hard during the pandemic as lockdowns restricted travel and governments had to support transport operators. Mobico's school bus business in North America has faced high costs and labour shortages. "The profit warning just goes to show it takes more than a name change to prompt a recovery in a company's fortunes," Mould added.

Persons: Russ Mould, AJ Bell, Mobico, Mould, Radhika Anilkumar, Nivedita Bhattacharjee, Miral Fahmy, Sharon Singleton, Jane Merriman Organizations: National Express, North America, U.S, Stagecoach, Thomson Locations: British, North America, Britain, Europe, North Africa, Bengaluru

☆ Government bonds are in a rout worldwide. Here's why you should care
▼ + stars: | 2023-10-04 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

When official interest rates rise, so do investors’ expectations for returns on bonds, known as yields. In the United Kingdom, the yield on 30-year bonds also reached 5% this week, the highest level in more than two decades. Yields on Italy’s 10-year bonds hit 5% on Wednesday, the highest level since 2012, when that crisis was in full swing. Mortgage rates riseThe yields on local government bonds are usually used by banks to price mortgages. High official interest rates in America and Europe have also raised the cost of borrowing for businesses.

Persons: Saul Loeb, Liz Truss, —, Matt Cardy, Freddie Mac, Andrew Sheets, Morgan Stanley, Stocks, ” Russ Mould, AJ Bell, we’ve, ”, “, That’s, ” Susannah Streeter, Hargreaves Lansdown Organizations: London CNN, US Treasury Department, Getty, UK, CNN, Nasdaq, Federal Reserve, BlackRock, Hargreaves Locations: Washington ,, United Kingdom, Bath, England, United States, Europe, America

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. Investors' focus will be on the final gross domestic product (GDP) estimate for the second quarter and weekly jobless claims data - due at 8:30 a.m. ET, as well as remarks by voting members Chicago Fed President Austan Goolsbee and Board Governor Lisa Cook during the day. The scope for interest rates staying higher for longer than anticipated has solidified with soaring energy prices keeping headline inflation elevated. Meme darling GameStop (GME.N) jumped 7.2% after the company named billionaire activist investor Ryan Cohen as its CEO and chairman.

Persons: Brendan McDermid, Ryan Cohen, Jerome Powell's, Powell, Austan Goolsbee, Lisa Cook, Russ Mould, AJ Bell, GameStop, Ankika Biswas, Shashwat Chauhan, Maju Samuel, Sriraj Organizations: New York Stock Exchange, REUTERS, Micron, GameStop, Dow, Nasdaq, Federal, Treasury, Apple, Microsoft, Investors, Chicago Fed, Dow e, Traders, Micron Technology, Thomson Locations: New York City, U.S, Riding

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. "The prospect of rates staying higher for longer has given investors a lingering headache," said Russ Mould, investment director at AJ Bell. "Many had hoped we would approach the end of 2023 with a clearer picture on when rates will start to be cut." ET, Dow e-minis were up 36 points, or 0.1%, S&P 500 e-minis were up 11 points, or 0.25%, and Nasdaq 100 e-minis were up 68.5 points, or 0.46%. Wayfair (W.N) rose 2.6% after Bernstein upgraded the online furniture retailer to "market perform" from "underperform", citing improving revenue growth and margins.

Persons: Brendan McDermid, dampening, Russ Mould, AJ Bell, Neel Kashkari, Lisa Cook, Li Auto, Alibaba, Bernstein, Ankika Biswas, Shristi, Anil D'Silva, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Activision, Microsoft, Dow, Nasdaq, U.S, Treasury, Apple, Nvidia, P Global, PMI, Minneapolis, Detroit, Dow e, PDD Holdings, Baidu, Hong, Thomson Locations: New York City, U.S, Hong Kong, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. SoftBank's Arm Holdings gained 6.5% after a stellar Nasdaq debut on Thursday, rekindling hopes of a turnaround in the initial public offering (IPO) market. U.S.-listed shares of Alibaba Group Holdings , JD.com , PDD Holdings (PDD.O) and Xpeng rose between 0.1% and 1.6%. ET, Dow e-minis were up 85 points, or 0.24%, S&P 500 e-minis were up 6 points, or 0.13%, and Nasdaq 100 e-minis were down 4.5 points, or 0.03%. Reporting by Ankika Biswas and Shristi Achar A in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Lam, Taiwan's TSMC, Stellantis, rekindling, Russ Mould, AJ Bell, Ankika Biswas, Shristi, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Ford, Motors, UAW, Dow, Nasdaq, Lam Research, KLA Corp, Reuters, Ford Motor, General Motors, United Auto Workers, Chrysler, SoftBank's Arm Holdings, Nvidia, there's, Therapeutics, Reuters Graphics Reuters, Traders, Federal Reserve, University of, Alibaba Group Holdings, PDD Holdings, Dow e, Thomson Locations: New York City, U.S, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsSummaryCompanies Tesla gains on Morgan Stanley upgradeBoeing rises after Vietnam Airlines jet dealFutures up: Dow 0.23%, S&P 0.44%, Nasdaq 0.63%Sept 11 (Reuters) - Wall Street futures gained on Monday as Tesla shares rose, while investors awaited inflation data due later this week for clues on the U.S. Federal Reserve's interest-rate path. The three major indexes logged weekly declines on Friday as strength in oil prices and stronger-than-expected economic data fueled concerns of sticky inflation and interest rates staying higher for longer. Investors now await the crucial consumer and producer prices data as well as retail sales numbers due later this week. Data over the weekend showed China's consumer prices returned to positive territory in August, while factory-gate price declines slowed, as deflation pressures ease amid signs of stabilization in the economy.

Persons: Brendan McDermid, Morgan Stanley, Russ Mould, AJ Bell, Ankika Biswas, Shreyashi Sanyal, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Boeing, Vietnam Airlines, Dow, Nasdaq, Wall, U.S, Investors, FedWatch, Dow e, Apple, Hostess Brands, PDD Holdings, Baidu, Sunday, Thomson Locations: New York City, U.S, U.S . Federal, China, Bengaluru

☆ The US dollar is king again. Here’s why
▼ + stars: | 2023-09-08 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

London CNN —The US dollar is enjoying its longest winning streak in nearly nine years. The rally comes after months of volatility, fueled by concerns that the dollar may be losing its status as the world’s reserve currency. “Rumors of the US dollar’s demise continue to be greatly exaggerated,” James Athey, investment director at Abrdn, an asset manager, told CNN. Higher interest rates tend to boost the value of a country’s currency by attracting more foreign capital, as investors anticipate making bigger returns. “The US economy continues to surprise to the upside,” Carsten Brzeski, global head of macroeconomic research at ING, told CNN.

Persons: ” James Athey, ” Athey, ” Carsten Brzeski, ” Brzeski, Russ Mould, AJ Bell, Athanasios Vamvakidis, Sheldon Cooper, “, ” Alex Cohen Organizations: London CNN, CNN, Federal Reserve, ING, US Federal Reserve, European Central Bank, Bank of America Global Research, People’s Bank of Locations: Saudi Arabia, United States, China, Europe, Germany, Russia, People’s Bank of China

Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. ET, for a snapshot of the U.S. economy, ahead of the keenly awaited inflation data scheduled for next week and the Fed's policy decision on Sept. 20. Investors will also parse comments from Boston Fed President Susan Collins and Dallas Fed President Lorie Logan later in the day. ET, Dow e-minis were down 76 points, or 0.22%, S&P 500 e-minis were down 11.5 points, or 0.26%, and Nasdaq 100 e-minis were down 50 points, or 0.32%. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Segar, Russ Mould, AJ Bell, Susan Collins, Lorie Logan, General Mills, Shristi Achar, Vinay Dwivedi Organizations: Wall, New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, Federal, Federal Reserve, Investors, Global, ISM, Traders, Boston Fed, Dallas Fed, Dow e, Apple, Alaska Air Group, Southwest Airlines, United Airlines, Thomson Locations: Manhattan, New York City , New York, U.S, Russia, Saudi Arabia, China, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. Shares of Salesforce (CRM.N), which also forecast upbeat quarterly sales, rose 5.6% before the bell as the cloud-based software provider benefits from price hikes and a resilient demand. Investors now await the price consumption expenditure (PCE) index for July, the Fed's preferred inflation measure, due at 8:30 a.m. The core PCE price index is expected to have climbed 4.2% in the 12 months through July, according to economists polled by Reuters. Among other stocks, Dollar General (DG.N) slumped 14.2% after the discount retailer cut its annual same-store sales forecast.

Persons: Brendan McDermid, Dow Jones, Salesforce, Russ Mould, AJ Bell, Raphael Bostic's, Alibaba, Shristi Achar, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Investors, Reuters, Graphics Traders, Atlanta Fed, PDD Holdings, Baidu, Dow e, Thomson Locations: New York City, U.S, Bengaluru

☆ Nvidia shares up on hopes of strong results powering another AI rally
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. Shares of the most valuable chip company had briefly scaled a record high in the previous session, but ended 2.8% lower as overall markets slipped. Investors expect upbeat results from Nvidia, whose shares are the top performer on S&P 500 this year, to revive a stocks rally that has struggled in recent weeks. Investors will be looking at sales at Nvidia's data center unit, home to its prized H100 chip used in AI. "Anything less than absolutely fantastic could trigger a sharp downside correction in Nvidia's stock price," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

Persons: Robert Galbraith, AJ Bell, Russ Mould, Ipek Ozkardeskaya, Medha Singh, Arun Koyyur Organizations: Nvidia, REUTERS, Reuters, Apple, Swissquote Bank, Thomson Locations: Santa Clara , California, Bengaluru

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. Other big technology and growth stocks also rose, with Tesla (TSLA.O) advancing 3.4% after logging its biggest one-day percentage gain since March on Monday. Macy's (M.N) jumped 4% after the department store chain beat second-quarter sales estimates, while Coty (COTY.N) slipped 2.0% after the perfume and cosmetics maker forecast annual profit below Wall Street expectations. ET, Dow e-minis were up 66 points, or 0.19%, S&P 500 e-minis were up 17.25 points, or 0.39%, and Nasdaq 100 e-minis were up 79 points, or 0.53%. Among other stocks, shares of Zoom Video Communications (ZM.O) rose 2.8% in premarket trading after the video-conferencing platform forecast third-quarter profit above Wall Street estimates.

Persons: Carlo Allegri, Nvidia's, Russ Mould, Jerome Powell's, Lowe's Cos, Amruta Khandekar, Shinjini Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Nvidia, Monday, Bell, Federal, Traders, Coty, Dow e, Zoom Video Communications, Wall, Activision, Microsoft, Ubisoft Entertainment, Thomson Locations: New York, U.S, Jackson

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