Nvidia is destroying Nasdaq
Dow remains black
The US stock exchanges did not maintain their opening gains on Monday, only the Dow Jones closed in positive territory. In the tech sector, sentiment is particularly negatively impacted by Nvidia’s disappointing quarterly sales figures. Biontech is also losing a lot as well, things are looking better for Pfizer.
After some initial gains, Wall Street closed inconsistently earlier this week. Most notably, poor preliminary data from chip maker Nvidia impacted the indices over the course of the year. After concerns about interest rates prevailed on Friday, investors took courage from the strong US labor market report for July and pointed to the strength of the US economy. On the other hand, the danger that the US central bank would react with even sharper interest rate hikes has been ignored for the time being. US consumer prices for July, due on Wednesday, may provide additional guidance. FROM Dow Jones Index improved by 0.1 percent to 32,833 points after hitting the daily high of 33,110 points. FROM S&P 500 and Nasdaq composite they lost 0.1 percent each.
First of all, poor preliminary data from Nvidia (-6.3%). Second-quarter revenues are expected to be $ 6.7 billion, well below the market estimate of $ 8.1 billion. According to the justification, the failure was mainly due to weaker than expected revenues from the gaming sector. Adjusted gross margin is expected to be 46.1 percent, well below the previous 67.1 percent forecast, the company said. The semiconductor sector was at the bottom of the S&P 500 index, down 2.5 percent.
Biontech under pressure in numbers
Also Biontechshares fell significantly by 7.5 percent. After a strong start to the year, the biopharmaceutical company earned and implemented in the second quarter by about 40 percent. less than in the same period last year. As the group reported, the development of the pandemic remains dynamic and leads to the delayed orders and thus fluctuations in quarterly sales. Fluctuations in sales due to the deferment of orders will probably continue until the end of the financial year. Biontech has confirmed the forecasts for the entire year 2022.
Newspapers from Tyson Foods fell by 8.4 percent. The group posted lower-than-expected revenues for the third fiscal quarter. However, sales of $ 13.5 billion exceeded market expectations at $ 13.31 billion.
Pfizer gained 0.6 percent. The pharmaceutical company agreed Global Blood Therapy to acquire for $ 5.4 billion, both companies announced. UPS fell by 0.3 percent. The logistics group has Italian Bomi group taken over, no purchase price has been entered.
Titles Blue apron climbed 12.4 percent. The meal kit supplier said it now sells meals at Walmart as the company wants to expand its partnership, including with corporate customers.
this Boeing shares increased by 0.5 percent. The 787 planes will soon be able to take off again after more than a year of grounding. The aircraft manufacturer received final approval from the US FAA regulator. This means that deliveries can also be resumed.
Ties with recovery
this US bonds recovered slightly after significant losses at the end of the week. The 10-year profitability fell by 7.1 basis points to 2.76%. The focus is now on US consumer prices for July, which should give a hint as to the further pace of Fed interest rates.
FROM dollar adjusted and withdrew slightly after Friday’s sharp surcharges. The dollar index lost 0.2 percent.
this oil prices they recovered slightly after the weak last week in which they lost around 10%. Profits amounted to 1.8 percent. However, concerns about a possible oversupply still prevailed in the market. Against this background, possible new nuclear talks with Iran are also being considered. If there is an agreement, more Iranian oil is likely to enter the market, further exacerbating the oversupply.
gold he was looking for his weakness at the end of the week. In addition to the weak dollar, participants also referred to the safe haven status of the precious metal. Relations between the US and China have deteriorated significantly recently after Nancy Pelosi, President of the US House of Representatives, visited Taiwan.