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[Rewards] NVIDIA shares soar after Q2 earnings beat, driven by strong demand for AI chips
Claim your Earnings Season offer by winning Rewards Points and discovering Investment Opportunities!
KEY Figures:
● Q2 revenue was a record of $13.51 billion, up 88% QoQ (quarter-on-quarter) and up 101% YoY (year-on-year), beating the expectation of $11.22 billion by Refinitiv.
● NVIDIA got a record Data Center revenue of $10.32 billion, up 141% from Q1 and 171% YoY.
● Non-GAA...

MACRO
Powell Faces Tricky Task of Explaining Rate Pause in Congress
Federal Reserve Chair Jerome Powell will have an opportunity this week to clarify what many found a confusing message on the path of interest rates, with the added task of assuring Democrats and Republicans the economy is on track.
Powell will need to reassure Republicans the Fed is not backing down from its campaign to contain price pressures, whil...

MACRO
Dow Industrials Erase 2023 Gain as Stocks Extend Selloff
The Dow Jones Industrial Average wiped out its 2023 gains on Tuesday as stocks extended a selloff in the face of a continued rise in Treasury yields.
Stock-market gains this year have been led largely by megacap tech stocks, boosting the tech-heavy Nasdaq and buoying the large-cap benchmark S&P 500. However, an equal-weight measure of the S&P 500 is negative ...