Stock market today: Dow, S&P 500 eke out gains ahead of Nvidia earnings
Nvidia (NVDA) is set to report earnings after the bell and give investors another look at the state of AI spending. The stock is already up nearly 200% this year, and more than 2,600% in the past five years as the company’s revenues have run wild amid a surge in demand for its AI chips.
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Read MoreStock market today: Indexes trade mixed with Nvidia's 3rd-quarter results on deck
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- US stocks were mixed Wednesday as traders looked ahead to Nvidia’s earnings report.
- Wall Street is estimating the chipmaker will report $33 billion in revenue for the third quarter.
- Traders, meanwhile, dialed back their expectations for rate cuts after a slew of Fed speakers.
‘Boondoggle investments’ warning on Labor’s Future Fund changes
The first Future Fund chairman, David Murray, says the organisation risks investing taxpayer money in “boondoggle” projects after Treasurer Jim Chalmers directed it to prioritise investments in housing, renewable energy and infrastructure.
Mr Murray, chairman from 2006 to 2012, said Labor was interfering in the independence of the fund, and investment returns of the $230 billion sovereign wealth fund would become more vulnerable.
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Read MoreProsecutors: 9 caught laundering cash into cryptocurrency for drug cartels
MIAMI – A grand jury indicted nine for conspiring to launder U.S. currency into cryptocurrency on behalf of drug cartels and for running an unlicensed money-transmitting business, prosecutors announced on Wednesday.
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The federal indictment identified Nilson Sneyder Vasquez Duarte,
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Read MoreS&P 500 seen reaching 6,600 next year by strategists at RBC, Barclays
Two more Wall Street strategists are projecting the bull market in US stocks will roll on in 2025.
On Monday, equity strategy teams at Barclays and RBC Capital Markets both issued a year-end target price of 6,600 for the S&P 500 (^GSPC) in 2025. The targets suggest a roughly 10.5% gain in the benchmark index over the next twelve months,
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Read MoreThe Burst
40.9% Upside On Under-the-Radar Stock
Investment Alert: Buy WEX Under $180/share
Disclaimer: Investment Alerts have a medium to long-term time horizon. These do not constitute financial advice and you should contact a financial advisor before deciding whether it is appropriate for your individual circumstances.
Key Points
- WEX is an undervalued company that offers a range of services,
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Read MoreThe Ivy
Market Commentary: 1 Buffett Stock Set To 4x
Buffett rarely ventures into the technology sector but he did make a huge bet on the future of data via Snowflake, which his Berkshire Hathaway investment vehicle snapped up pre-IPO.
The future of Artificial Intelligence (AI) hinges on data, and that’s Snowflake’s playground. In an AI-dominated world, data management solutions like Snowflake’s will be pivotal,
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