My top 10 things to watch Wednesday, May 22 Nvidia earnings day. Stock futures are slightly lower after the S & P 500 and Nasdaq closed at record highs a session earlier. The artificial intelligence chipmaker's report after the bell is dominating the headlines. I don't think it's a make-or-break report, but expectations are very high. Club name Nvidia has had a huge gain so far this year, up 92.6%.
Club name Nvidia has had a huge gain so far this year, up 92.6%. That's more than the advances for fellow Club stocksahead of Nvidia's report tonight. One nugget including in our preview: Amazon's cloud unit is not halting chip buying from Nvidia while waiting for next-generation Blackwell products.shares fall after an earnings miss. Revenue of $24.53 billion and a 3.7% same-store sales decline were roughly in line with estimates.
U.S. oil futures fall nearly 1% to just under $78 a barrel and are on pace for their first negative week in three. On Tuesday afternoon, the Biden administration said it will "strategically" release 1 million barrels of gasoline from reserves in the Northeast between Memorial Day and the Fourth of July., including at Citi and Morgan Stanley, following a mixed fiscal third-quarter report. Earnings beat, but revenue and same-store sales were light.
More downbeat comments on the electric vehicle market: The CEO of EV battery supplier Panasonic told reporters it may delay investments into more production capacity in the U.S. According to Reuters, the executive said Panasonic has seen a "drastic" decrease in orders from a certain company, though he didn't say which.
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Source: News Formal (newsformal.com)
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