Nvidia Stock Price May Move Rapidly This Week! Salesforce Release Its Earnings Too!
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The trading week kicks off on mixed sentiment. Last week marked the end of a four-week rally in the US stocks, and the new week starts with unpleasant new that drought in China’s Sichuan region will cause ‘severe’ power cuts. The S&P500 will kick off the week after having slid 1.20% last week, Nasdaq will be testing the bull’s nerves after having lost more than 2.5% over the course of last week. All eyes will be on the Federal Reserve’s (Fed) Jackson Hole meeting.
This year, Jackson Hole may have a bigger-than-usual impact on investor sentiment, as investors don’t really know where the market is going, as the market doesn’t really know where the Fed is going. In the FX, the US dollar consolidates strength as euro traders keep a close eye on the flash PMI figures today to see the impact of the latest spike in energy prices on economic activity. On Friday, the German PPI data came as a shocker, with more than a 5% rise in factory-gate prices only during July, due to a nearly 15% rise in energy prices, ONLY IN JULY. Elsewhere, the strong dollar continues pressuring gold to the downside. The price of an ounce retreated to $1743 this morning, as Bitcoin struggles to hold ground above the $20K level. If we see the US stocks, especially tech stocks, give back gains this week, we could see Bitcoin vanish below the $20K mark.
Zoom Video, Nvidia, Salesforce, Dollar Tree and Peloton Interactive
On corporate side, Zoom Video, Nvidia, Salesforce, Dollar Tree and Peloton Interactive will reveal earnings this week, and Tesla’s 3-for-1 stock split will become effective from Aug 24th.
Watch the full episode to find out more!
- 0:00 Intro
- 0:25 Market update
- 2:33 All eyes on Jackson Hole
- 6:23 EURUSD eyes parity
- 7:31 Gold, Bitcoin under pressure
- 8:22 Nvidia to reveal earnings, Tesla to split in 3
Ipek Ozkardeskaya
Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020.
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