Beat the street: US stocks - will Goldilocks stick around? NVIDIA launches a ‘hobbled’ chip; iron ore prices predicted to rise
US stocks indicate a cautiously higher open on the final day of trade for 2023. All three indexes remain on track for monthly, quarterly and annual gains. Plus NVIDIA launches a new US-friendly gaming chip.
(Partial Video Transcript)
Will Goldilocks stick around?
Hello, I'm Angeline Ong, and welcome to beat the street, the show that gives you all the tradeable news and data you need ahead of the Wall Street Open.
Coming up, will Goldilocks stick around? Well, US stock indexes edging up in light trade on the final day of 2023, with the S&P 500 and the Dow hovering around record highs on hopes of a Federal Reserve (Fed) rate cut soon.
Next up, NVIDIA, the semiconductor giant, launches a new gaming chip for China to comply with US exports controls. And hot commodities. We're looking at iron ore, and let's expect iron ore prices and the gaming scene this year to continue, hopefully into early 2024. We'll tell you why in just a moment.
Dow, NASDAQ treading water
Good afternoon, I'm Angeline Ong, and welcome to this new edition of beat the street. Not long now before Wall Street starts trading, let's just give you a heads-up as to how they're looking.
We're talking about quarters gains to a slow open here, looking at the Wall Street, which is near the Dow Jones, and it's just tipped ever so slightly lower. As you can see, they're just very slightly treading water there.
A similar story for the NASDAQ, which has seen stellar gains this year. The NASDAQ is known as the Tech 100 on the IG platform. And just calling up for you right now, because have a look at that. It's also looking flat, slightly lower now. But, hey, it can do that because it's had such a stellar run this year.
US indices set for gains
Making the chart go back slightly to show you where it has been since around the end of December in 2022, more than 40%.
And also what's interesting is that the S&P 500, similar trajectory there, not as much in terms of gains as the NASDAQ, just pulling up the US 500, but also not a bad show at all for the US 500, which mirrors the S&P 500.
All three indices look set for gains on the final monthly gains, quarterly gains and annual gains as well.
[…]
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Act on share opportunities today
Go long or short on thousands of international stocks with spread bets and CFDs.
- Get full exposure for a comparatively small deposit
- Trade on spreads from just 0.1%
- Get greater order book visibility with direct market access
See opportunity on a stock?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See opportunity on a stock?
Don’t miss your chance – upgrade to a live account to take advantage.
- Trade a huge range of popular stocks
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See opportunity on a stock?
Don’t miss your chance. Log in to take advantage while conditions prevail.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
