Nvidia’s impressive Q1 results and the $11bn revenue forecast for the second quarter blew investors’ minds away.
Major US stock indices gained yesterday. The S&P 500 added 0.88%, while Nasdaq 100 jumped almost 2.50%, thanks to a 24% rally in Nvidia which rocketed to a fresh-all-time high of almost $395 a share. Nvidia’s PE spiked near 220. Is this a bubble?
While the technology stocks were euphoric yesterday, the rest of the sectors were much less appetizing. US debt ceiling talks continued, there was again some optimism on the headlines, but no deal has been reached and the clock is ticking louder into the June1st deadline.
In Europe, Germany became the first big nation to step into recession since the pandemic. News sent the EURUSD to a month low yesterday.
US crude fell more than 3% yesterday, after hitting the 50-DMA the day before on Saudi Prince Abdulazziz bin Salman’s threat to sellers. Energy bulls found no solid ground to extend the rally above the 50-DMA, and the price of a barrel fell all the way down to $70.80 pb.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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