As we begin the day, pre-market futures are showing a positive trend, with the tech-heavy Nasdaq leading the charge. The Dow and S&P 500 are also displaying modest gains, but it’s the blue-chip Dow that’s taking the lead for now.
Market Watch: Current Gains
- Dow Jones: +120 points
- S&P 500: +13 points
- Nasdaq: +18 points
- Russell 2000: +7 points
These early morning gains are a promising sign, and it will be interesting to see how the rest of the day unfolds.
NVIDIA’s CES Keynote: Exciting Developments
Last night at the Consumer Electronics Show (CES) in Las Vegas, NVIDIA CEO Jensen Huang took to the stage to unveil some exciting new developments from his company. Clad in a sleek black Tom Ford lizard-skin motorcycle jacket, Huang presented a slew of innovative products and platforms that are sure to make waves in the tech industry.
New Graphics Card: GeForce RTX 5090
One of the most significant announcements came in the form of NVIDIA’s new graphics card for gaming: the GeForce RTX 5090. This powerful piece of hardware is designed specifically for desktop PCs and promises to deliver unparalleled performance and visuals.
AI Chip: GB10
In addition to the GeForce RTX 5090, Huang also revealed a smaller AI chip called GB10. As a stripped-down version of its more powerful GB200 counterpart, GB10 is poised to become a popular choice for companies looking to integrate AI capabilities into their products.
Cosmos Platform: Revolutionizing Robotics and Self-Driving Cars
Another key announcement came in the form of NVIDIA’s new Cosmos platform, which is designed specifically for training robots and self-driving cars. This innovative platform has the potential to revolutionize a wide range of industries, from manufacturing to transportation.
Will CES Keynote Spark Another Big Move for NVDA Stock?
While it’s still early days, last year’s CES keynote presentation by Huang was followed by a significant surge in NVIDIA stock prices. Will this year be any different?
Current Price and Market Cap
As of now, NVDA is trading at +2% ahead of today’s opening bell, with its market capitalization reaching new heights as it surpasses Apple once again.
November Trade Deficit: A Mixed Bag
This morning brought news of the U.S. Trade Balance for November, which came in at -$78.2 billion. While this represents a deep cut compared to previous months, it’s not quite as severe as expected.
U.S. Trade Balance: A Historical Perspective
For context, this deficit is the deepest since September last year, but still significantly lower than the all-time low of -$101.9 billion recorded in March 2022.
What to Expect from Tuesday’s Stock Market
Later today, we’ll be seeing two important economic metrics that are sure to have a significant impact on the markets:
- ISM Services for December: Expected to grow slightly to +53.4% from +52.1% reported in November.
- Job Openings and Labor Turnover Survey (JOLTS) for November: Expected to remain steady at 7.7 million job openings.
Impact of ISM Services and JOLTS on the Markets
The ISM Services PMI has been a key indicator of economic growth, and its slight increase is expected to boost market sentiment. Meanwhile, the JOLTS data will provide insight into the labor market, which has been driving the U.S. economy’s strong performance.
Conclusion
As we continue through the day, it’s clear that there are many factors at play in the markets. From NVIDIA’s exciting CES announcements to the latest economic metrics, today promises to be an eventful one. Stay tuned for further updates and analysis as the market continues to evolve.
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