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Good Morning! 👋
Happy Wednesday! It is a big earnings day today:
👉 All eyes on Nvidia
👉 More China stock regulations
👉 Amazon set to join DOW
NVIDIA: All Eyes On You
Nvidia, now the third most valuable public company globally, is set to announce its fourth-quarter earnings this afternoon. Its stock has surged fivefold since the end of 2022 due to high demand for its AI-related GPUs. The company's valuation soared to $1.8 trillion, surpassing tech giants Alphabet and Amazon.
Source: Bloomberg
Analysts predict a 240% revenue jump to $20.6 billion for the quarter, with net income expected to rise to $10.5 billion from $1.41 billion. The focus is on Nvidia's data center business, where revenue is projected to nearly quadruple to $17.06 billion. Based on options activity, Nvidia's results could sway its stock by about 11%. This reflects its pivotal role in the AI sector and impact on the broader market. After tripling in value in 2023, Nvidia is a key driver of the S&P 500's gains. Nvidia, all eyes are on you.
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CHINA: More Stock Restrictions
China has restricted major institutional investors from selling shares at the market's open and close, aiming to bolster its $8.6 trillion stock market. This move, part of efforts led by the China Securities Regulatory Commission (CSRC) under Chairman Wu Qing, targets curbing market volatility by preventing net selling during critical trading periods.
Source: FT
Although it mainly affects institutions, individual investors remain unaffected. The initiative responds to a prolonged market downturn with additional measures, including recalling stock loans for shorting and limiting hedge funds' ability to reduce equity positions. These steps are intended to stabilize the market and restore investor confidence amidst economic challenges.
AMAZON: Joins DOW
Amazon will soon join the Dow Jones Industrial Average, replacing Walgreens, as revealed by S&P Dow Jones Indices. The adjustment is set to enhance investor exposure to e-commerce. The change was influenced by Walmart's stock split, which affected its index representation.
Source: CNBC
Under the direction of Andy Jassy, Amazon has broadened its focus from its initial book-selling venture to dominate the cloud computing sector. This inclusion in the Dow Jones reflects the company's significant growth and diversified income, particularly in advertising, and follows the addition of Salesforce, Amgen, and Honeywell International three years prior. Walgreens has been a Dow member since 2018 after taking over from GE.
Headlines You Need To Know: 🎙
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📊 The World’s Oldest Populations
Source: Statista
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