Stocks are up strong across the board on the heels of Nvidia’s crucial earnings report, with NVDA up about 2.6% on a strong-but-not-a-blowout report.
But I fully expected this because none of the other big mega-cap stocks exploded higher on earnings, either. However, the fact that it’s up is a very, very good sign for broad markets.
Of course, if you bought call options in NVDA, you’re likely going to lose money because it didn’t move enough. A lot of times when everyone’s expecting a big move, that move doesn’t come.
We still have important earnings coming today starting with Rocket Lab (RKLB), Dell (DELL), Vistra (VST), Norwegian Cruise Line (NCLH) and more.
We also have a crucial GDP report out this morning, which showed quarter-over-quarter growth of 2.3%, in line with consensus expectations of 2.3%, though at the low end of the range (2.3% to 2.8%).
I’ll cover all that, my daily hitlist of longs and shorts and more in this morning’s “Premarket Must Watch” video!
Roger Scott
Roger Scott Trading
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