Outlook 08/28: Stock futures are neutral as investors waited for Nvidia’s quarterly earnings announcement. Investors are keeping an eye on Nvidia to gauge the broader sustainability of the broader tech and AI trade. The semiconductor giant, slated to report after the close, has surged 159% in 2024, raising questions of how much more room there is for the stock to run. Focal points for investors include the delivery schedule for Nvidia’s Blackwell chips and an update on the demand for AI. Nvidia has already registered an impressive comeback rally off the August lows, but it could post another sharp move after Q2 earnings.
ESU24 (SEP2024): YVAH 5648 YPOC 5645 YVAL 5631 GAP 5644.50
/ES Plan: Yesterday market closed bullish (PBT 5677), but overnight looks more balanced, moving within previous value, so these're the opening and initial balance options for today:
