tl;dr
Stock index futures on Wednesday pointed to a lower open, as Wall Street awaits Nvidia's (NVDA) quarterly results after the closing bell. Traders will also be receiving the minutes of the Federal Reserve's last monetary policy committee meeting. Nvidia (NVDA) stock is expected to earn $4.64 p...
Stock index futures on Wednesday pointed to a lower open, as Wall Street awaits Nvidia's (NVDA) quarterly results after the closing bell. Traders will also be receiving the minutes of the Federal Reserve's last monetary policy committee meeting.
Nvidia (NVDA) stock is expected to earn $4.64 per share on revenue of $20.55B in FQ4 2024. The company's blowout numbers over the past year has led to its stock more than tripling in value, largely on the back of its artificial intelligence offerings. Expectations are high going into the earnings report.
Shares of Lucid Group (LCID) will be in focus, with the luxury electric vehicle (EV) maker on tap to deliver Q4 2023 results in extended trading. The company has been punished by investors amid slumping demand in the EV sector and a lack of profitability, with shares falling 38.4% in 2023 and another 12.6% so far this year.
U.S.-listed shares of Rio Tinto (RIO) were last down 0.7% in pre-market trading, after the company reported full year 2023 results. The company's underlying earnings slipped 12% Y/Y to $11.8B from $13.4B, largely due to lower prices for its commodities as supply improved.
Walgreens Boots Alliance (WBA) stock slipped about 2.5% ahead of the opening bell, after it was announced that the pharmacy chain's stock would be removed from the Dow Jones Industrial Average (DJI). Replacing Walgreens in the venerable blue-chip gauge will be tech and retail giant Amazon (AMZN), shares of which rose nearly 1%.
More about NVIDIA Corporation
NVIDIA Corporation is a leading American multinational technology company in the manufacturing and semiconductors industry, with a market capitalization of $171.55 billion. The stock has demonstrated a strong performance, with a current price of $712.49 per share and a 12.74% year-to-date return. The company's financial metrics, including a P/E ratio of 91.75 and a beta of 2.055, indicate a potential for volatility and higher valuation. Market sentiment towards NVIDIA Corporation is positive, with a 7.57% quarterly revenue growth and a relative strength index (RSI) of 18.18, suggesting a bullish trend. However, it's important to note that past market behavior is not always a reliable indicator of future performance, and there may be potential risks or uncertainties associated with this analysis.
More about Lucid Group Inc
Lucid Group Inc. is a real estate and construction company operating in the blank checks sector. The stock performance has been mixed, with a slight decrease of -1.5% and a positive EPS of 0.359. Market sentiment appears neutral with no significant movement in either direction. However, the company's financial metrics show a decrease in revenue of 0.295 and a positive net income of 695833000. Overall, the stock's performance and market sentiment suggest a cautious approach, with potential risks and uncertainties in the near future.
More about Rio Tinto ADR
Rio Tinto ADR is a metal mining company with a market cap of 107.51 billion. The stock is currently trading at $12.51 with a 4.004% dividend yield. The stock has a 52-week high of $32.36 and a low of $5.27. The Relative Strength Index (RSI) is currently at 86, indicating overbought conditions. The stock is trading below its 50-day and 200-day moving averages, with a bearish trend. Market sentiment is currently negative, with a decrease in the stock price of 0.428% and a decrease in the overall market of 0.104%.
More about Walgreens Boots Alliance Inc
Walgreens Boots Alliance Inc. is a pharmaceutical holding company with a market cap of $192.27 billion and a stock price of $33.78. The company has a dividend yield of 1.92% and a P/E ratio of 0.66, with a 52-week high of $165.00 and a 52-week low of $26.56. Market sentiment appears slightly bearish with a negative earnings per share growth of -0.586, but the company's price to earnings growth ratio is positive at 0.1. As a technical analyst, the stock's performance suggests potential support and resistance levels at the 52-week low and high, with a bearish trend in the short term. Further analysis using technical indicators like moving averages and RSI is recommended to gauge potential entry and exit points for traders.
More about Amazon.com Inc
Amazon.com Inc is a leading multinational technology company in the e-commerce, cloud computing, digital streaming, and artificial intelligence sectors. With a market capitalization of $1.74 trillion, the stock is currently trading at $3,552.67 per share. The stock has shown a 2.91% increase in the last trading session, with a 55.78% year-to-date return. The Relative Strength Index (RSI) is at 50.69, indicating a neutral sentiment in the market. The stock is currently trading above its 200-day moving average of $2,04.87, suggesting a bullish trend. However, it's important to note that past performance is not indicative of future results, and there are potential risks associated with market volatility and economic uncertainties.
More about Walmart Inc
Walmart Inc. is a leading American multinational retail corporation with strong financial metrics, including a market capitalization of $473.46 billion and a price-to-earnings ratio of 29.26. The stock has shown positive performance, with a 2.27% increase and a 6.01% dividend yield. Market sentiment appears bullish, as evidenced by the stock's current price of $237.11, which is above its 50-day moving average. However, it's important to note that the Relative Strength Index (RSI) is at 0.0255, indicating potential overbought conditions. Additionally, the company's revenue of $638.79 billion and earnings per share of $182.67 suggest a strong financial position. While past performance looks positive, it's important to consider potential risks and uncertainties, as market behavior may not always be indicative of future performance.
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