Next Day Prep: Surge of NVIDIA $500B Orders, $1B Stake
A quick analysis of today’s market outlook and key trading opportunities to start your day.
Intro & Market Mood
Today’s market saw the major averages hitting fresh record highs, led by NVIDIA’s impressive performance. However, beneath the surface, the rally was narrow, with the market showing signs of selectivity and rotation.
Overnight Headlines
- NVIDIA (NVDA): Surged almost five percent, reaching new highs after announcing over $500 billion in orders for their next-gen chips through 2026.
- Nokia (NOK): Soared over twenty-two percent following an equity stake from NVIDIA and a partnership on 6G networks.
Economic Announcements
All eyes are on the upcoming FOMC decision, with expectations of a twenty-five-basis point rate cut that could impact sectors like small caps and real estate.
Earnings Highlights
- Wayfair (W): Surged over twenty-three percent, surpassing expectations and signaling long-term growth in the home furnishings category.
Top Movers
Watch for continued strength in healthcare and biotech stocks like Regeneron (REGN), Vertex, and IQV, which showed strong momentum into the close.
Quick Trade Ideas
Consider a potential entry in Regeneron around 650-652 or a breakout buy at 656 with an initial target of 660. Be cautious of late-day fades in tech and consumer stocks like Meta and Shopify.
Key Takeaway
Tomorrow’s market may see volatility around the FOMC decision. While the rally was driven by NVIDIA, opportunities lie in careful stock selection, particularly in healthcare, and caution is advised in chasing late-day losers.