Wall Street traded mixed on Monday as investors awaited Nvidia's earnings report, a key winner in this year's AI boom. Bitcoin remained popular, while the Japanese yen fell amid growing uncertainty over the timing of the BOJ's next interest rate hike. Let's discover the latest market trends, including Nvidia’s earnings, Bitcoin’s rally, and BOJ’s policy updates.
This week, investors are closely watching Nvidia’s third-quarter earnings report. As a leader in artificial intelligence, Nvidia’s performance significantly impacts the tech sector. Analysts expect Nvidia to report a revenue increase of over 80%, reaching $32.9 billion. However, issues with the company’s Blackwell AI chip design have raised concerns. The outcome of this report could shape sentiment around tech stocks and the broader market.
Bitcoin remains in the spotlight as it trades above $90,000, gaining momentum since the recent U.S. election. President-elect Donald Trump’s pro-crypto stance has further fueled optimism in the market. Bitcoin surged over 30% in one week, reaching a record high of $93,480. Cathie Wood of ARK Invest predicts Bitcoin prices could climb to $650,000 by 2030, with bullish scenarios pushing prices to $1 million or more.
The Japanese yen weakened against the U.S. dollar following vague comments from Bank of Japan Governor Kazuo Ueda. Investors hoped for clearer guidance on the timing of rate hikes but were left disappointed. As a result, USD/JPY rose by 0.4%, trading at 154.88. Japan’s Finance Minister Katsunobu Kato hinted at potential market intervention, adding to market speculation.
U.S. stock futures traded in mixed patterns on Monday. While the Nasdaq gained 0.7%, Dow futures fell 0.3%. Earnings reports from major corporations, including Nvidia and Walmart, are expected to provide insights into market trends. Additionally, comments from Federal Reserve officials this week could influence future monetary policy decisions.
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