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Tech stocks face diverging performances as Nvidia leads the pack, while Apple struggles, causing a profit cool down and an emerging asymmetry among Big Tech stocks, affecting the overall earnings potential in 2024.
Bad economic news so far has been mostly positive for the stock market, as investors worry over whether the Federal Reserve will start cutting interest rates.
Goldman Sachs: escalating electricity needs from running AI data centers will generate downstream investment opportunities that will benefit utilities, renewable energy generation, and industrial sectors.
Nvidia prepares for Q1 2024 earnings, with EPS expected to be 5x higher than last year and revenue projected to be 3x higher. AI-driven gains extend beyond chipmaking to power, commodities, and utilities, with Nvidia's market cap increasing by $1.5 trillion since Q1 2023.
Japan’s top currency diplomat Masato Kanda declined to comment on whether the finance ministry had intervened in the yen.