Beat the street: Inflation jitters dull NVIDIA glow; oil steady ahead of OPEC+; gold glistens
Renewed inflation jitters could test Wall Street’s May rally. Recent data pointing to rising price pressures have dented bets of interest-rate cuts this year.
After better-than-expected earnings, NVIDIA lowers the price of its most-advanced China chip. Oil is steady while gold gains as investors digest US rate hike fears.
(AI Video Summary)
Durable goods data
On today's episode of "Beat the street," Angeline Ong's discussion centeres around market reactions to durable goods data surpassing expectations, the persistent inflation concerns, and potential implications of US interest rate changes. Notably, the market shows caution amid volatile trading conditions, with significant attention to the Fed's reluctance to cut rates despite financial pressures.
NVIDIA's share price reactions
NVIDIA's stock reactions to pricing adjustments, and broader sector movements suggest mixed market sentiments. The upcoming OPEC+ meeting and US economic data releases are also highlighted as pivotal for future market directions.
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