Beat the street: Wall Street eyes big tech; inflation; Micron weighs
Wall Street pares losses after economic data. The key reading investors are watching out for is the PCE on Friday. Micron’s outlook weighs on big tech like NVIDIA and AMD.
(AI Video Summary)
NVIDIA and Micron share prices
In today's "Beat the street" update, US equity markets, particularly the tech sector with stocks like NVIDIA and Micron, are under scrutiny due to their recent performance and implications on wider indices. While NVIDIA shows resilience amid a general tech rally, Micron's disappointing revenue forecast has impacted its stock value.
JPMorgan and Citigroup
Additionally, recent Fed stress tests have put financial giants like JPMorgan and Citigroup in the spotlight. Despite potential economic softening signified by some firms like Walgreens, US market sentiment remains fairly optimistic, buoyed by the anticipation of interest rate cuts.
Moreover, international trade tensions and political factors are influencing market dynamics as well, with potential tariffs and the ongoing EU-China dialogue over industries like electric vehicles drawing attention. Amid these, gold and other precious metals trading data indicate a cautious investor approach pending key economic indicators like the PCE figure.
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