Nvidia earnings boost appetite in stocks, as yields fall on weak PMI | MarketTalk: What’s up today? | Swissquote

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Nvidia announced STUNNING results when it released its Q2 earnings yesterday after the bell. The company reported $13.5bn sales last quarter and said that it expects $16bn sales for next quarter, up from $12.6bn forecast last quarter. Earnings jumped to $2.70 per share, versus $2.09 expected by analysts, and the most-loved chipmaker of the year approved $25bn in share buybacks. Shares rallied 10% in the afterhours.
Elsewhere, the morose PMI data from Europe and the US pushed yields lower yesterday and kept US crude below the $80pb level, even though the US inventories dived more than 6 mio barrels for the second consecutive week. Trend and momentum indicators remain comfortably negative, and the market conditions are far from the oversold territory, meaning that there is room for a deeper downside correction in oil prices.
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