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HomeUncategorizedMarket Watch: Nvidia Earnings Report, Fed Minutes, and UK Inflation Data in...

Market Watch: Nvidia Earnings Report, Fed Minutes, and UK Inflation Data in Focus.

Market Watch: Dow futures contract fell 13 points, S&P 500 futures dropped 2 points, and Nasdaq 100 futures rose 6 points.

Nvidia’s earnings are under scrutiny as investors assess valuation, Federal Reserve meeting minutes, and U.K. inflation fall.

Nvidia’s earnings

Nvidia’s earnings report is expected to impact share prices of AI-related companies and have a significant influence over broader markets. Investor enthusiasm for AI has helped the Nasdaq Composite index climb close to its all-time high. Nvidia’s robust earnings could help justify stock market valuations that have grown stretched in recent months. Analysts at Rosenblatt expect Nvidia to beat and raise in the April quarter, albeit not reaching the January levels.

Fed  minutes

The Federal Open Markets Committee’s minutes are set to be released later this session, providing insight into the timing and extent of policy-easing this year. The release follows a cooler-than-expected US CPI release, but Fed officials continue to warn about inflation risks, creating uncertainty over when the Fed will start cutting.

UK inflation fell

UK inflation fell by less than expected in April, disappointing investors expecting the Bank of England to cut interest rates next month. Consumer prices rose by an annual 2.3%, down from 3.2% in March and its lowest since July 2021. Services inflation was much higher than expected at 5.9%, above the expected reading of 5.5%. The Bank of England is expected to cut interest rates in August.

Economic Calendar

  • 7:00 MBA Mortgage Applications
  • 9:40 Fed’s Goolsbee Speech
  • 10:00 Existing Home Sales
  • 10:00 Atlanta Fed’s Business Inflation Expectations
  • 10:00 Quarterly Services Survey
  • 10:30 EIA Petroleum Inventories
  • 1:00 PM Results of $16B, 20-Year Bond Auction
  • 2:00 PM FOMC Minutes

Must read book about investing – check hereMarket Watch Market WatchM

Recent data indicating a possible cooling in the U.S. economy have alleviated some persistent inflation concerns, fueling hopes that the Federal Reserve will start to bring interest rates down from more than two-decade highs as soon as September. Along with the Dow, the benchmark  and tech-heavytouched record marks last week.

The durability of the strength on Wall Street will likely be tested by a fresh batch of corporate results this week, including quarterly returns from artificial intelligence darling Nvidia (see below). Durable goods and consumer sentiment data will also be in focus as markets hunt for more evidence that growth is moderating enough to give the Fed justification for rolling out rate cuts this year.

Recent data indicating a possible cooling in the U.S. economy have alleviated some persistent inflation concerns, fueling hopes that the Federal Reserve will start to bring interest rates down from more than two-decade highs as soon as September. Along with the Dow,

The durability of the strength on Wall Street will likely be tested by a fresh batch of corporate results this week, including quarterly returns from artificial intelligence darling Nvidia (see below). Durable goods and consumer sentiment data will also be in focus as markets hunt for more evidence that growth is moderating enough to give the Fed justification for rolling out rate cuts this year.

arket Watch MMarket Watcharket Watch

MFitch Ratings has downgraded China’s credit rating outlook to “Negative” from “Stable” due to concerns over growing public debt and slowing growth in the world’s second-largest economy. The agency affirmed China’s rating at A+, citing increasing risks to China’s public finance outlook. Concerns over slowing economic growth have grown in recent months, with Fitch expecting gross domestic product growth to fall to 4.5% in 2024.

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U.S. inflation data for February is expected to provide insights into the future direction of Federal Reserve monetary policy. The overall consumer price index (CPI) is expected to match the previous month’s pace of 3.1% annually, with the core CPI expected to slow to 3.7% from 3.9% in January. However, the month-on-month gauge is expected to shed light on price gains momentum.

Fed officials have made cooling inflation the main objective of interest rate hikes, which have brought borrowing costs to over two-decade highs. They suggest cuts may be coming later this year, but need more evidence that price growth is sustainablely easing back down to their 2% annualized target. Analysts at ING believe inflation is likely too hot for comfort.

U.S. inflation data for February is expected to provide insights into the future direction of Federal Reserve monetary policy. The overall consumer price index (CPI) is expected to match the previous month’s pace of 3.1% annually, with the core CPI expected to slow to 3.7% from 3.9% in January. However, the month-on-month gauge is expected to shed light on price gains momentum.

Fed officials have made cooling inflation the main objective of interest rate hikes, which have brought borrowing costs to over two-decade highs. They suggest cuts may be coming later this year, but need more evidence that price growth is sustainablely easing back down to their 2% annualized target. Analysts at ING believe inflation is likely too hot for comfort.

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