Overview
The U.S. stock market closed higher today, driven by optimism surrounding Nvidia's upcoming earnings announcement. The market had faced volatility due to uncertainty over the Federal Reserve's policy direction and the sustainability of an AI investment boom. Nvidia's strong sales forecast, particularly around increased capital spending in technology, helped calm fears of a potential bubble burst in AI investments.
| Nasdaq Composite | S&P 500 |
| Dow Jones Industrial Average | 1 South Korean won equals |
Major News Story
Nvidia's earnings anticipation was the focal point today, as the company projected strong sales, surpassing market expectations. CEO Jensen Huang emphasized the accelerating demand for computing and AI's transformative impact across all sectors. Following these announcements, Nvidia's stock rose by 3% in regular trading and surged an additional 3.5% in after-hours trading. Concurrently, the U.S. Bureau of Labor Statistics decided not to release October employment data, reducing expectations for a rate cut next month.
Economic Indicators for Tomorrow
| Time | Indicator |
|---|---|
| 10:30 PM | U.S. Initial Jobless Claims |
| 10:30 PM | U.S. Nonfarm Employment Change |
| 10:30 PM | U.S. Unemployment Rate |
| 10:30 PM | U.S. November Philadelphia Fed Manufacturing Index |
| 10:30 PM | U.S. October Leading Economic Indicators (Revised) |
| 10:30 PM | U.S. October Existing Home Sales |
| 10:30 PM | U.S. Natural Gas Storage |
| 10:45 PM | Fed Speeches by Haymaker, Greenspan, and Cullum |
General Opinion
Market participants are focused on the Federal Reserve's policy moves and advancements in AI technology. While the recent rally may suggest the end of a correction phase, uncertainty persists, and a cautious market approach is recommended.
