NVIDIA Corporation (NVDA) is down 1.58% in pre-market trading, extending yesterday's decline to $530.12, as investors await key earnings reports and economic data. The Dow Jones futures are up 0.2% at 34,500, while the Nasdaq futures are down 0.5% at 13,800. The S&P 500 futures are little changed, up 0.1% at 4,200.
What's Happening Right Now
The pre-market trading session is seeing mixed moves, with Apple (AAPL) down 0.3% at $175.50 and Microsoft (MSFT) up 0.2% at $342.50. The 10-year Treasury yield is up 1 basis point at 1.93%, while the US dollar index is up 0.1% at 92.50. In overnight news, China's GDP growth came in at 4.9%, missing expectations of 5.1%.
Why It Matters for US Investors
The decline in NVDA is weighing on the Nasdaq futures, which could lead to a lower open for the tech-heavy index. US investors are also watching the earnings reports from IBM and Johnson & Johnson, which could impact the Dow Jones and S&P 500. The economic data due today, including initial jobless claims and existing home sales, could also move the markets.
What Analysts Are Saying
Goldman Sachs analysts are expecting the S&P 500 to reach 4,300 by the end of the year, driven by earnings growth and monetary policy. However, JP Morgan analysts are warning of a potential correction in the Nasdaq, citing valuation concerns and regulatory risks. Meanwhile, Morgan Stanley analysts are bullish on NVDA, citing its strong demand for artificial intelligence and gaming products.
Key Takeaways
- NVIDIA Corporation (NVDA) is down 1.58% in pre-market trading at $530.12.
- US futures are mixed, with the Dow Jones up 0.2% and the Nasdaq down 0.5%.
- Key earnings reports from IBM and Johnson & Johnson, and economic data on initial jobless claims and existing home sales, are due today.
Frequently Asked Questions
What is the current price of NVDA?
The current price of NVDA is $530.12, down 1.58% in pre-market trading.
What are the key earnings reports due today?
The key earnings reports due today are from IBM and Johnson & Johnson.
What is the current level of the 10-year Treasury yield?
The current level of the 10-year Treasury yield is 1.93%, up 1 basis point.
