Newscasts - US Morning Call: Nasdaq, S&P futures are flat as markets assess Nvidia's results

Adm Energy

09/09/2024 14:43

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Source: 'Reuters - Business videos'

Description: Futures tracking the tech-heavy Nasdaq and the benchmark S&P 500
were flat on Thursday, after AI-darling Nvidia's quarterly forecast failed to
impress investors but a beat on both revenue and earnings expectations
signaled resilient demand.
Short Link: https://refini.tv/4dGVmR0

Video Transcript:

NASDAQ and S&P futures are flat as markets assess NVIDIA's results. Hello, and
welcome to your US Morning Call. I'm Ludovica Brignola. The future is tracking
the tech heavy NASDAQ and the benchmark S&P 500 were flat on Thursday after AI
darling NVIDIA's quarterly forecast failed to impress investors but they beat
on both revenue and earnings expectations signalled resilient demand. And
NVIDIA is down 5% in pre-market and semiconductor peers Broadcom, ADM, and
Applied Materials are also down, but a market participant thinks the sell-off
will be short lived.

This is going to be a $4 trillion market cap in the next year along with Apple
and Microsoft. This AI Revolution is just starting, being led by godfather of
AI Jensen, NVIDIA. It continues to be, I think more of our core players
intact.

Let's take a look at corporate stories now. Salesforce beat Wall Street
expectations on revenue and profit amid high spending on its enterprise cloud
products. Its shares were up more than 5% in pre-market. Cybersecurity firm
CrowdStrike has cut its revenue and profit forecast on Wednesday in the
aftermath of a July global outage due to its faulty software update. The
company added the environment will remain challenging for about a year. Its
shares were down 2% pre-market. The US 10-year Treasury was little changed on
Thursday as investors looked ahead to initial claims for state unemployment
benefits. They likely remained unchanged at 232,000 last week. The second
reading of Q2 GDP will also be out, and it's seen confirming the preliminary
reading of 2.8% year-on-year. US pipeline operator ONEOK has struck two deals
worth $5.9 billion with infrastructure investor GIP to boost its presence in
the Permian Basin as well as in North Texas and Louisiana regions. Its shares,
though, are down in pre-market. Google is considering building a large data
center in Vietnam in what would be the first such investment by a big US
technology company in the South East Asian Nation. The investment would be a
shot in the arm for Vietnam, which has so far failed to attract major overseas
capital in data centers due to its patchy infrastructure. Oil prices held
mostly steady as a smaller-than-expected draw in US crude inventories and
continued worries over China demand countered supply disruptions out of Libya.
Some oil fields in the country have halted production amid a fight for control
of the central bank, with one consulting firm estimating output disruptions of
between 900,000 and 1 million barrels per day in the next few weeks. Well,
that's your US Morning Call