Beat the street: NVIDIA; Walmart; Home Depot; gold
NVIDIA's earnings are seen as key this week not just because of the company's burgeoning market cap, but also due to the fact that the chipmaker is seen as crucial to the AI financial promise.
Investors eye Walmart and Home Depot results this week for any comments on margins and current demand trends. Gold prices hit their highest level in almost a week on a softer dollar and ongoing tensions in the Middle East.
(AI Video Summary)
Tech and retail earnings updates
In today's edition of "Beat the street", Angeline Ong shares exciting updates and insights about various financial news. She starts by talking about how important NVIDIA's earnings are and explains how they play a crucial role in the exciting world of AI finance. Ong also covers the latest happenings in the retail world, focusing on the giants Walmart and Home Depot and how their performance affects profits and consumer demand.
Gold, Dow Jones and FTSE 100 updates
Moving on, Ong briefly talks about the rise in gold prices, which is caused by a weaker US dollar and ongoing tensions in the Middle East. She then dives into the stock market performance, particularly the Dow Jones and the FTSE 100. She points out that both indices have experienced a decline after a five-week streak of gains. Ong explains in a simple and creative way that the Dow Jones has been on an upward trend and the FTSE 100 has been doing even better.
Earnings reports details
Ong also discusses the upcoming earnings reports of Walmart, Home Depot, and NVIDIA. She highlights Walmart's ability to handle higher costs and points out that they have beaten earnings expectations in three out of the previous four quarters. She also lets us know that analysts are predicting an 11% increase in US e-commerce sales for Walmart. On the other hand, Home Depot is expecting a decline of 18% in earnings and a 4% drop in sales. Meanwhile, NVIDIA has been a superstar in the market and has been driving the AI revolution.
Central banks and Forex news
Ong also mentions some exciting upcoming news from central banks and how traders are eagerly waiting to see if there will be any hints about interest rate cuts. She briefly discusses the USD/JPY currency pair and the potential for an upside breakout. Ong also gives us a heads up about what's happening in the corporate world, such as Elliott Advisors' battle to acquire Currys and Mondelez's management changes in its Russian business.
Geopolitical impacts on oil and gold
Lastly, Ong touches on the impact of wars and geopolitical tensions on oil and gold prices. She ends the video by mentioning how the weather is affecting agricultural commodities, specifically soybean oil. So, due to better weather in South America and declining US exports, soybean oil is experiencing a decline as well.
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