Is Nvidia's soaring performance a forex game-changer amidst the Euro crisis? [Video]

Ipek Ozkardeskaya Swissquote Bank Ltd

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.

Author

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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