After reporting its quarterly report, Nvidia saw a sharp decline of about 7% in after-hours trading, which impacted the S&P 500. Wall Street’s expectations have become increasingly harder to meet for Nvidia, as the beats become narrower. Despite still topping estimates from the same quarter a year ago, the stock continues to sell off in extended trading. This has placed Nvidia about 11% below its June high.
On the other hand, Salesforce has seen a positive trend with a 4% increase in after-hours trading. The company not only beat expectations in its report but also raised its guidance. CEO Marc Benioff expressed optimism about the company’s prospects, highlighting the use of AI by various customers like OpenTable and Wyndham Hotels. However, the stock remains 19% below its high from March 1.
CrowdStrike experienced a more challenging quarter, with a decrease of over 2% following its earnings report. While fiscal second-quarter results were positive, the cybersecurity giant had to cut its guidance, leading to ongoing concerns about the stock. CEO George Kurtz is scheduled to appear on “Mad Money” with Jim Cramer to address these issues. As of now, CrowdStrike is down 33% from its peak in July.
Senior economics reporter Steve Liesman will delve into the bond market, focusing on the significance of yields and expert predictions. Currently, the 10-year Treasury note yields 3.83%, while the two-year note yields 3.86%. Liesman will explain the implications of these yields being in close proximity. Additionally, various bond ETFs like JNK, HYG, and SHYG are offering yields ranging from 5.85% to 6.61%, providing investors with different options for fixed income securities.
Intel shares have faced a rough patch, plummeting by 4.5% in the span of three days and experiencing a 36% decrease since August. The stock is now incredibly low, standing at 62% below its high from December 27. This decline raises concerns about Intel’s performance and future outlook in the semiconductor industry.
Walgreens has hit a new 52-week low, closing at $9.38 and showing signs of being oversold with an RSI of 29. This marks the lowest point for the stock since October 1996, indicating a long-standing decline. Despite CEO Roz Brewer’s upcoming one-year mark, the stock is down by 64% in 2024. Analyst opinions on Walgreens vary, with some recommending buying, holding, or selling the stock based on its current performance.
Several retailers are gearing up to release their quarterly reports, including American Eagle, Best Buy, Burlington Stores, Dollar General, Gap, Lululemon, and Ulta Beauty. These reports will shed light on the performance of these companies in recent months, providing insights into consumer trends and market sentiments. Investors will be closely monitoring these reports to gauge the health of the retail sector.
During a recent segment, the “Fast Money” traders discussed the divergence between gold and Bitcoin. While both assets were once considered similar in terms of investment opportunities, gold has seen a 7% increase in the past month, while Bitcoin has faced a 13% decline. This observation highlights the changing dynamics of the digital currency market and traditional investment options.
The stock market continues to exhibit a mix of success stories and struggles among companies across various sectors. Investors must stay informed and vigilant to navigate the ever-changing landscape of the market effectively. By analyzing the performance of key players and understanding market trends, investors can make informed decisions to optimize their portfolios and achieve their financial goals.