Wall Street: PCE-Inflation trifft Ziele, Nvidia-Zahlen im Fokus
Die Preisinflation für Juli liegt im Rahmen der Erwartungen und liefert keinen neuen Inflationsschock. Nach Börsenschluss meldet Nvidia seine Quartalsergebnisse – die Erwartungen sind hoch.
On Wall Street, trading began almost unchanged. The personal consumption expenditures (PCE) inflation for July has largely met expectations, thus not creating an additional inflation shock. The focus immediately shifted to chip company Nvidia, which announced its figures today after the market closed. Expectations are high; JP Morgan anticipates a beat-and-raise quarter, projecting revenues of $94 to $95 billion and an outlook of $107 to $108 billion.
Moreover, market sentiment has become notably optimistic, and short positions have been reduced at a substantial margin. The options market prices a movement of around 4.6 percent. Market sentiment is buoyed by the declining oil price; Brent crude oil fell by about 3 percent to around $86 per barrel after Iran and Oman signaled progress in a deal to open the Hormuz Strait.
Meanwhile, software remains under pressure. Intuit surprised analysts with its sales outlook, and analysts reacted sharply: JP Morgan downgraded the stock from "Overweight" to "Neutral" and cut the price target from $605 to $331. Despite the risks, the bank warns that AI disruption is now spreading from TurboTax to QuickBooks. Retail numbers are mixed; Abercrombie made truly impressive numbers and outlooks, which correspondingly benefited its stock.
Parfumerie chain Bath & Bodyworks lowered earnings expectations upon closer inspection. Retailer Kohl's disappointed with comparable sales, and sales tax refunds are mainly responsible for the revenue boost.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
