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News in Brief
Bloomberg:
- Tech up in late hours as Nvidia emboldens AI bulls.
- China cracks down on viral stock calls after wild price swings.
MarketWatch:
- Opinion: Nvidia just created a new multibillion-dollar business from scratch.
- Nvidia Earnings: Stock gains as Nvidia’s outlook impresses yet again.
- Hedge funds cut stake in Magnificent Seven to invest in broader AI boom.
yahoo! finance:
- Wall Street cheers as Nvidia shows no sign of slowing down.
- ‘Demand is just so strong’: Nvidia CEO sits down with Yahoo Finance.
- Nvidia clears the way for AI stocks to keep powering higher.
- South Korea announces $19 billion support package for chip industry.
Nvidia did not disappoint with latest earnings blowout and paved the way for further AI gains. We will show Nvidia graph tomorrow its price change will only reflect on today’s chart.
Global Indexes
S&P 500
The S&P 500 was still hesitant at close, not knowing what to expect from Nvidia that reported after close of market. Futures are all positive after Nvidia earnings.
DAX
The DAX closed on its EMA8 line also in anticipation of what will happen in the US.
HANG SENG
The HANG SENG’s correction is continuing with another gap that broke its EMA8 line. Notice that the correction started with a breakaway gap after the doji high.
NYSE & NASDAQ Stocks
First Solar Inc
First Solar gained 18.7% for the day after forecasting earnings increase from $7.74 last year to $36.74 by 2027.
Meta Platforms Inc
Meta is at crossroads for its next move while an uncertain doji is touching its negative trend line above and the positive one below.
JSE Stocks
JSE All Shares
The JSE All Shares broke our tight trend line. We will have to see how the positive US futures will affect this index.
Pick n Pay Stores Ltd
Pick n Pay is trying to break its negative trend of the past months. Its 200 DMA resistance is also above.
Algomodel Strategies, Education & Features
Click on Education or go to the home page to view education posts.
Frontrunner, Gaps, Trend and Cyclic Indicators are explained in these education posts.
All stock graphs are shown with a Trend Candles Template which is a feature available in Algomodel Signals Pro.
