NVIDIA

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News in Brief

Bloomberg:

Asia stocks retreat as traders eye later Fed cuts.
China’s $538 billion deposit exodus supercharges rally in bonds.
Nvidia’s jaw-dropping rise in chip stardom.
Tech up in late hours as Nvidia emboldens AI bulls.

MarketWatch:

Dow ends 605 points lower as Boeing shares dive.
Nvidia is sporting growth one tech CEO says hasn’t been seen ‘in the history of capitalism’.
Nvidia is set to be worth as much as all German stocks put together.
Nvidia sees $221.2 billion boost to its market cap on the day.
Jobless claims fall again to 215,000. Strong labor market fuels US economy.

yahoo! finance:

Dow has worst day of year as Nvidia fails to spark broader rally.
Boeing warns of free cash burn in 2024 amid sluggish deliveries.
Google ties up with Foxconn to make Pixel phones in India.

The fact that Nvidia is worth as much as all German stocks put together says it all.

Global Indexes

S&P 500

The S&P 500 made a large engulfing bear candle to close below its EMA8 line.

DAX

The DAX remained uncertain with a doji close on its EMA8 line.

HANG SENG

The HANG SENG is extending its negative trend that started 4 days earlier in overbought territory.

NYSE & NASDAQ Stocks

Nvidia gained 9.3% after reporting upbeat earnings. This was one of the few highlights as the broader market made a correction.

Boeing Co

Boeing bounced down from its negative trend line with an engulfing bear candle. One analyst prediction of $140 might be on the cards.

JSE Stocks

JSE All Shares

The JSE All Shares broke its positive trend line with a Frontrunner heading down. Its MACD is on the verge of turning red. This index was also in extreme overbought territory.