See what’s driving market performance around the world in today’s Morning Lineup. Bespoke’s Morning Lineup is the best way to start your trading day. Read it now by starting a two-week trial to Bespoke Premium.  12bet app review to learn more and start your trial.

“The single most important thing for any processor is getting adoption by software developers.” – Jensen Huang

Morning stock market summary

Below is a snippet of commentary from today’s Morning Lineup. Start a two-week trial to Bespoke Premium to view the full report.  

Positive earnings from Nvidia (NVDA) have US futures firmly higher this morning, and lower-than-expected jobless claims have also helped to keep things green.  Later we’ll get flash PMI readings from S&P at 9:45, New Home Sales at 10, and the KC Fed Manufacturing report at 11 AM.

If there’s anyone who would know about the accuracy of the quote above from NVDA CEO Jensen Huang, it would be Jensen Huang who is riding the wave of AI using his company’s chips to heights that could never have been imagined.  A big reason why is because 12bet app reviewof the Cuda software platform that accompanies those chips, and that was on full display in last night’s earnings report which blew the doors off expectations across just about every possible metric.

Given the magnitude of its beat relative to expectations in its reports last night, traders seemed surprised that Nvidia (NVDA) is up ‘only’ 7% in the pre-market. Whether that’s the ‘right’ reaction to the report, we’ll leave it to others to decide, but a 7% move is anything but small. First, let’s look at NVDA’s price chart. With the stock trading over 12bet reviewGiven the magnitude of its beat relative to expectations in its reports last night, traders seemed surprised that Nvidia (NVDA) is up ‘only’ 7% in the pre-market. Whether that’s the ‘right’ reaction to the report, we’ll leave it to others to decide, but a 7% move is anything but small. First, let’s look at NVDA’s price chart. With the stock trading over ,000 this morning, the stock is up 164% over the last year and 105% on a year-to-date basis. Nothing small about that.

Now let’s compare the change in NVDA’s market cap today to the market cap of individual S&P 500 companies.  As of yesterday’s close, the average market cap of S&P 500 components was just under $95 billion while the median market cap was just $35.1 billion.  The fact that the average market cap is 169% larger than the median shows how top-heavy the index is, but that’s a discussion for another time.  Based on pre-market trading, NVDA is poised to increase 12bet app reviewits market cap by 5.2 billion. That’s over $80 billion more than the average market cap and $140 billion more than the median market cap.  Not only that but that $175 billion in market cap would also rank as the 46th largest company in the entire S&P 500.  That’s larger than the market caps of companies like Caterpillar (CAT), American Express (AXP), Pfizer (PFE), and Morgan Stanley (MS).  Again, nothing small about that.

To continue reading the rest of today’s morning note, where you’ll find much more analysis of global equities and economic readings 12bet appreleased this morning, read today’s full Morning Lineup with a two-week Bespoke Premium trial.

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