Today's outlook for the Tokyo stock market = mixed, digesting nvidia's earnings reports, balancing profit-taking sells and dip-buying tug-of-war.
November 21, 2024, 8:09 AM GMT+9
In today's Tokyo stock market, the Nikkei average stock price is expected to move up and down. There is a perception that Nvidia's earnings are somewhat disappointing and may hold back the upside, while dip buying following a retreat in excessive caution is expected to support the downside. Once the initial round is over, with limited clues, trading is likely to be volatile.
The expected range for the Nikkei average is 38,000-38,500 yen.
Following the decline in Nvidia's stock in after-hours trading, there is a possibility that the upside of domestic related stocks may be capped. The earnings announced on the 20th did not meet the expectations of some investors, causing Nvidia's stock price to temporarily drop by about 2% in after-hours trading.
In the market, there are opinions that "the earnings themselves are not bad. The initial selling may have been due to some expecting a timing for profit-taking" (Ryota Otsuka, Strategist at Toyo Securities). There may also be scenes where the decline slows down.
On the 20th, Nvidia indicated an outlook for fourth-quarter (November to January) revenue of $37.5 billion (plus or minus 2%), surpassing the analyst estimate of $37.09 billion compiled by LSEG.
The expected range for the Nikkei average is 38,000-38,500 yen.
Following the decline in Nvidia's stock in after-hours trading, there is a possibility that the upside of domestic related stocks may be capped. The earnings announced on the 20th did not meet the expectations of some investors, causing Nvidia's stock price to temporarily drop by about 2% in after-hours trading.
In the market, there are opinions that "the earnings themselves are not bad. The initial selling may have been due to some expecting a timing for profit-taking" (Ryota Otsuka, Strategist at Toyo Securities). There may also be scenes where the decline slows down.
On the 20th, Nvidia indicated an outlook for fourth-quarter (November to January) revenue of $37.5 billion (plus or minus 2%), surpassing the analyst estimate of $37.09 billion compiled by LSEG.
The earnings announcements of major domestic companies have concluded, leaving limited clues. Trading has been lackluster recently, and after the morning trading round is over, the index is expected to continue to be influenced by futures trading.
In the previous day's US market, the Nasdaq Composite, centered on tech stocks, ended lower as Nvidia's earnings awaited. Concerns about escalating tensions between Russia and Ukraine weighed heavily. Weak earnings from discount giant Target also dampened the market sentiment.
Today, there will be an opportunity for Bank of Japan Governor Ueda to speak, as well as announcements in the USA such as the November Philadelphia Federal Reserve Business Conditions Index, weekly initial jobless claims, and opportunities for several Federal Reserve Board (FRB) officials to speak.
In the previous day's US market, the Nasdaq Composite, centered on tech stocks, ended lower as Nvidia's earnings awaited. Concerns about escalating tensions between Russia and Ukraine weighed heavily. Weak earnings from discount giant Target also dampened the market sentiment.
Today, there will be an opportunity for Bank of Japan Governor Ueda to speak, as well as announcements in the USA such as the November Philadelphia Federal Reserve Business Conditions Index, weekly initial jobless claims, and opportunities for several Federal Reserve Board (FRB) officials to speak.
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