Will Apple and Amazon drive the markets? Or will the pivot point be NVIDIA?
After mixed tech earnings from the likes of Meta and Alphabet, investors are now waiting on Apple and Amazon’s results for clues on the next moves for global stock markets.
Rick Bensignor, President of Bensignor Investment Strategies, tells IGTV’s Angeline Ong why the answer will come in the back half of May when ‘weathervane stock’, NVIDIA, reports.
(AI Video Summary)
Market resilience despite unexpected inflation numbers and poor Meta earnings
Rick Bensignor discusses the market's positive reaction to early financial figures, which were in line with expectations, causing the S&P futures to rise by 55 points. He highlights the resilience of the market in the face of unexpected inflation numbers and poor earnings from Meta, noting institutional buying as a sign of underlying strength. Bensignor suggested the Federal Reserve is unlikely to cut rates before the US elections, citing the overall health of the economy despite challenges like high auto loan defaults.
More tech earnings reports expected
Bensignor also mentions the anticipation surrounding upcoming earnings reports from major companies like Apple and NVIDIA, especially NVIDIA's potential impact due to the AI revolution. He concludes that the market is expected to remain volatile without significant movement until these reports are released.
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa 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.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get spreads from just 0.1% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only
