Bloomberg reported yesterday that Nvidia could be flashing signs of overheating. The reason that Bloomberg considers Nvidia to be overbought was based on the fact that the shares have climbed over 230% since the start of the year, and they are currently in overbought territory on the RSI index. So does this mean Nvidia is due for a pullback?
Yesterday we saw a big miss in the US CPI print which allowed the S&P 500 to move significantly higher on ‘peak Fed narrative’ hopes. Seasonax’s event feature allowed us to expect upside in the S&P 500 in the event of a miss and the same feature leads us to expect potential for dip buying in the S&P 500 today.
On November 14, US CPI inflation data is coming out and it's widely anticipated to come in lower than the prior reading with the headline at 3.3% and the core in line with the prior reading of 4.1% year-on-year now there is intense focus on US inflation because markets are trying to assess whether the Federal reserve has indeed finished hiking interest rates if they have finished hiking interest rates that could signal another leg higher in US equities as well as the beginning of a down trend for the heavily bought US dollar.
Nvidia is reportedly planning to reveal three new chips for China according to the Star Market Daily. According to the reports, the announcement could come as soon as November 16, and Nvidia shares are up in premarket trading in anticipation of the event.
Now the Coca-Cola company is a very famous American multinational company, founded at the end of the 19th century, best known for its famous product Coca-Cola. On top of its flagship flagship drink, the company also sells a number of soft drinks as well as alcoholic beverages.
The Nikkei has a very strong seasonal pattern towards the end of November. The reason for this pattern is due to some tax-loss selling behaviour that repeats itself time and time again, resulting in gains in the Nikkei.
United healthcare group is an American multinational company that manages both healthcare and insurance. As well as providing well needed healthcare products and services the United health group is an extremely profitable company.
Apple's latest earnings show the sales for the Mac and iPad really struggled in this last quarter. Furthermore, the drop in sales to greater China also weighed on sentiment surrounding Apple stock the EPS hit target as did revenue but sales in greater China fell 2 1/2% year-on-year and came in below market expectations.
A series of interest rate hikes from the Federal reserve has kept the dollar bid continually this year. Inflation fears have been the driver of these rate hikes and the dollar long position is showing extreme stretch position in the…
Utility companies tend to do well in recessions as consumers understandably still have to make payments for basic requirements such as water, gas and energy. This week is an important week for utility companies and on Friday we see the…
