Table of Contents:
Initial stability for Wall Street
The Wall Street stock market opened the day with stability that reflects a mixed session. Investors, in fact, are waiting for important news, in particular from the quarterly results of Nvidia, one of the leading companies in the technology sector. With a market capitalization of more than 3.6 trillion dollars, Nvidia represents a crucial reference point for the S&P 500 and Nasdaq Composite indices.
The publication of the results, scheduled for the closing of the markets, could significantly influence the stock market performance in the short term.
Focus on Blackwell chips and artificial intelligence
Particular attention is paid to Nvidia’s new Blackwell chips, designed for artificial intelligence. CEO Jensen Huang recently described the demand for these chips as “incredible,” sparking investor interest. The company’s ability to translate this demand into financial results will be fundamental for the future of the company and for the trend of the technology market. Analysts expect Nvidia’s results to provide valuable guidance on the health of the technology sector and the economy in general
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Impact of global economic news
In addition to Nvidia’s results, other factors are affecting the markets. The Dow Jones rose 59.43 points, while the S&P 500 showed a slight decline. The price of WTI oil also increased, reaching 70.04 dollars per barrel. In Europe, Ford announced the cut of 4,000 jobs, a decision linked to economic weakness and lower than expected demand for electric cars. This news highlights the challenges that companies are facing in a constantly evolving economic environment
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Mortgage applications on the rise in the United States
In the United States, there is an increase in mortgage applications, with a 1.7% increase in the mortgage applications index. This positive sign could indicate a recovery in the real estate market, despite the fact that rates on 30-year mortgages have risen to 6.90%. The growth in refinancing requests and new questions suggests that Americans are trying to take advantage of funding opportunities, despite economic uncertainties
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Situation in Asian markets
Asian markets closed higher, with Hong Kong and mainland China eagerly awaiting Nvidia’s results. The Hang Seng Index and the Hang Seng Tech recorded gains, supported by the technology and pharmaceutical sectors. These developments highlight how Nvidia’s performance expectations are also affecting Asian markets, demonstrating the global interconnection of
economies and financial markets.
Production in the construction sector in Europe
Finally, Eurostat data show that in September, production in the construction sector in the euro area fell by 0.1% compared to August, while in Italy it grew by 2.2%. This contrast highlights a negative trend for the euro area, but signs of recovery in Italy could offer signs of optimism. Investors will continue to monitor these developments to assess future economic prospects
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