Beat the street: Focus turns to Apple, Amazon, Meta and NFP; Nvidia; Peloton

Nvidia's new China-focused AI chip is expected to have the same price as Huawei product. Peloton, all-sessions, slip on Q3 revenue estimates.

(AI Video Summary)

More major earnings reports and oil updates

In today's edition of "Beat the street," the host, Angeline Ong, talks about important news and information related to the stock market opening. She focuses on the earnings reports of big technology companies like Apple, Amazon, and Meta, as well as other significant events. For example, she mentions that NVIDIA, a tech company, has released a new AI chip for the Chinese market, which could have a similar price to Huawei's product. She also mentions that OPEC-plus ministers have decided to keep the oil output policy steady.

Breaking news about initial jobless claims

The expected number was $212,000, but the actual number turned out to be $224,000. A tastylive reporter named Chris Vecchio, who is reporting from New York, comments on this jobs data and the Federal Reserve's recent decision to not cut rates early. He believes that the market perceives this as a potential mistake by the Federal Reserve and explains that the regional banking crisis is affecting the market. The market is responding by investing in gold and pushing down treasury yields. Overall, it seems like the market is leaning towards the Federal Reserve making a policy mistake.

Tech giants' earnings reports

Next, the show focuses on the upcoming earnings reports of Apple, Amazon, and Meta. Vecchio believes that these reports will have a bigger impact on market sentiment compared to the non-farm payrolls report. He explains that if the economic data is weak or the companies miss their earnings targets, it could cause more serious problems for the market. The options market also suggests that the market expects some significant movement after these earnings reports. The host also mentions that the US dollar is slightly increasing in value and another commentator named Shaun Murison talks about the dollar's strength in the long term.

The video goes on to discuss the expected earnings of Apple, Amazon, and Meta. Apple is expected to have its best quarterly earnings in two years, thanks to strong sales of the new iPhone 15. Amazon is also expected to report significantly improved earnings in the fourth quarter, with analysts predicting strong growth in its cloud service. Meta, formerly known as Facebook, is expected to report earnings of $4.96 per share. The company's stock has recently seen a significant increase.

Other tech news and oil updates

Overall, the video covers various stocks and their performance. For example, it mentions Qualcomm, which reported better-than-expected numbers but saw its stock decline due to Apple's decision to make its own chips. It also talks about NVIDIA, which is receiving pre-orders for its new AI chip that is targeting the Chinese market. The video also mentions companies like Peloton and Merck, discussing their stock performance and earnings.

Lastly, the video briefly mentions that OPEC-plus will review whether to extend oil production cuts in early March. It also shows charts displaying the movement of different stocks and crude oil prices.