CHIP manufacturer in focus
Disappointment potential at Nvidia inhibits US investors
This audio version was artificially generated. More information | Send feedback
Wall Street starts at the start of the week with the handbrake. One reason is the announced quarterly figures from Nvidia: The high -tackled goals contain the risk of disappointment – which promptly affects the title of the chip manufacturer.
The US exchanges inconsistently closed after the strong surcharges on Friday at the beginning of the week. The Dow-Jones index Castle 0.2 percent higher at 41,241 points. The S&P-500 However, gave in 0.3 percent and the Nasdaq Composite fell by 0.9 percent. There were a total of 1,509 (Friday: 2,504) course winner and 1,316 (317) losers. 65 (55) title unchanged.
On Friday, the deaf statements by US Federal Reserve President Jerome Powell pulled the stock exchanges. Powell had practically announced the hoped -for interest rate reduction in September on the monetary policy symposium in Jackson Hole. He left the door open for an interest rate reduction by 25 or 50 basis points in September, but a lower reduction will probably be the first step, according to Colin Finlayson, co-manager of the Aegon Strategic Bond Fund at Aegon Asset Management. “The door is open to both, but the current data situation speaks more for a step of 25 basis points,” added the participant. The FED will continue to observe the data, whereby it should concentrate in particular on the labor market.
There are other important dates on the agenda during the week. Economic sides, the PCE price index on Friday is likely to be looked at here. In addition, the chip group becomes Nvidia Publish quarterly figures on Wednesday, which reserve disappointment potential in view of the highly tackled expectations. For the stock, it went down by 2.3 percent. The papers of other sector values also gave up. Advanced Micro Devices lost 3.2 percent and Broadcom 4.0 percent. Super micro fell by 8.3 percent, arm by 5.0 percent.
Gold price
At the foreign exchange market, the dollar showed up with light serves according to the strong taxes on Friday. The dollar index won 0.2 percent. The Greenback approaches a level where investors could consider buying, according to Danske Bank Research's analysts. However, a persistent weakness is unlikely, since the interest reductions of the Fed, which are used for this year, are too high by 100 basis points, says Kristoffer Kjaer Lomholt, director of foreign exchange and interest strategy. “While we see the possibility of further short-term dollar weakness, especially since the positive risk mood in view of the upcoming interest reductions lasts both the Fed and the European Central Bank, we believe that the conditions for sustainable weakness of the Greenback are not yet fully given,” he added.
The oil prices continued their rally on Friday. The prices for the WTI and Brent varieties rose by up to 3.0 percent. Market participants referred to the latest developments in the Middle East conflict. Israel had attacked destinations in Lebanon in a preventive beat at the weekend. Also supported the weaker dollar. In addition, there was the persistent insecure location in Libya. Production and export were stopped in Libya, it said. The reason is the tensions between the rival governments.
The gold price increased something. The prize for the troy ounce rose by 0.2 percent. The all -time high remained in sight. “It is less a look at interest reductions in September than the prospect of interest reductions by a total of 100 basic points by the end of the year that drive the gold price,” said Oliver Stevens from the Brokerhaus Flow Community. He also referred to the continuing tensions in the Middle East.
Presentation of new iPhone apparently moves closer
Apple (+0.2 percent) sent invitations to an event on September 9, at which the company should present its latest iPhone and artificial intelligence (AI) based functions. The invitation says “It's GlowTime” – time to shine – however, further details were not mentioned. Apple's shares were slightly higher.
Above (-2.3 percent) must pay 290 million euros in the Netherlands. The Dutch data protection authority imposed the fine because the traffic agent and food delivery service sent the personal data of its drivers in Europe without sufficient protection to the company management in the USA.
