This week's financial results and economic calendar (2/19 to 2/23) depends on NVIDIA's financial results! Will semiconductor stock prices gain further momentum?

The biggest focus this week is the financial results that NVIDIA will announce on the 21st. There is quite a bit of market expectation in the company's stock, whose total market value surpassed the alphabet on the 14th and emerged in 3rd place as an American company,Whether the announcement of financial results will give further momentum to the semiconductor stock market, or whether good materials run out, that trend seems to influence the overall market price. What is the US stock options marketIt is assumed that the company's stock will move extremely sharply after financial results are announcedDoing it. Meanwhile, although there is little sense that Japanese stocks themselves are overvalued, they are likely to become a landing ground in the rising market due to lack of materials in the US stock market. Also, it seems that there are many investors who have missed the rise in Japanese stocks since the beginning of the year, and even if there are short-term adjustments, the view that “if it falls, it is easy to get into hot selling” is also heard.The point is that the search, which has concentrated on stocks with a high degree of contribution to the index, such as high-tech stocks, may expand in the futureIt becomes.

This week's dollar-yen exchange rate will be since mid-November last yearAttention is being paid to whether or not to put it on the 151 yen rangeIt will be done. The one held in JanuarySummary of the US FOMC proceedingsYaRemarks by senior US Federal Bank officialsis scheduled,The market is expected to scrutinize the timing of interest rate cuts. However, it seems difficult to use it as a new clue. Since economic indicators also lack important indicators, the current oneThe trend of appreciation of the dollar and depreciation of the yen is likely to continue. However, since Treasurer Kanda Masato showed the idea of “responding appropriately if necessary” to the current depreciation of the yen on the 14th, etc., it is easy for the Japanese government/Bank of Japan to be wary of yen buying intervention, etc., and the movement to further build up the rise in dollar purchases and yen sales will slow down as it approaches the 151 yen line.

Last week's market price points
1. The Nikkei Average continued to grow for 3 weeks, recovering to the 38,000 yen level and approaching the highest value in the history of the “temporary 38,800 yen range”
2. US CPI, core index rose sharply for the first time in 8 months, early interest rate cut observations retreated, dollar yen broke through 150 yen
3. NVIDIA's total market capitalization is 4th in the world, surpassing Amazon and Google and growing incredibly rapidly due to the AI boom
4. Bitcoin recovers to the 50,000 dollar range for the first time in about 2 years and purchases continue even as risk aversion spreads
5. Mr. Buffett sells part of Apple stock for the first time in 3 years An ominous sign for Apple stock?
6. Soundhound AI grows rapidly by 66% NVIDIA's investment revealed
7. Applied suggests recovery in the semiconductor industry with a drastically high bullish outlook of 11% at one point outside of financial results acceptance time

The Nikkei Average rose for 3 consecutive weeks to 38,487.24 yen, 1589.82 yen (4.31%) higher than the previous weekend in the Tokyo stock market last week. The Nikkei Stock Average temporarily rose to the 38,800 yen level in response to expectations for a soft landing in the US economy and strong performance of Japanese and US companies, until the all-time high set in 1989/12Approaching 50 yenThere was a scene. The current rise in Japanese stocks is surpassing US stocks,The “fear” of investors who are late in buying is giving impetus to stock appreciation. In the market, when was the Nikkei Average's all-time highA matter of timeThe view is getting stronger, but”There is clearly a sense of overheating in semiconductor-related mattersThere are also voices wary of the recent sharp rise.

In the US economic indicators, the US Consumer Price Index (CPI) and Producer Price Index (PPI)Content that exceeds expectationsThen, the Fed'sEarly interest rate cut observations have declined drastically. In particular, the month-on-month ratio of the US CPI Core IndexHighest growth in the past 8 monthsIt became. Although there is no change in expectations for interest rate cuts by the end of the year in the market in response to US CPI exceeding expectations,The view that interest rate cuts will begin after summer has suddenly surfacedDoing it. The dollar and yen grew rapidly in the order ofMore than 1 dollar = 150 yenThe 151 yen increase, which has been high for the past few years, is just around the corner. However, retail sales announced on the 15thIt was a bigger drop than expectedExpectations for early interest rate cuts by the US Federal Reserve have once again strengthened. However, there is a possibility that bad winter weather had an effect, and since there is a risk that data is distorted due to seasonal technical factors, it was also pointed out by economists that it should not be read in depth. Who is Ueno Yasunari, chief market economist at Mizuho Securities”The trend of disinflation in the US has not changed, and unless the fundamental part of interest rate cuts is overturned in the next policy change, the US stock exchange rate will intermittently test an increaseIt shows the way of looking at it”.