We want more
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Why do Nvidia investors keep demanding more despite recent earnings?
Are Nvidia investors a bit like Oliver Twist? They want more. I mean, the numbers were beat yesterday, and so is Forward Revenue. But they got marked down for rising costs. And Bitcoin investors they want more as well, and they are giving it to themselves by the bucket load. Could they break 100,000 very soon? It's looking likely. And today, a wealth of data, including those PMIs. Will we see a widening gap across? across the Atlantic, US doing better, Europe not so good. We don't have long to wait. It's Friday, it's the twenty second of November twenty twenty four. It's the morning call from Nab. Good morning. Well, the US dollar got over a hundred and seven on the DXY, the highest in a couple of years. It's down a bit from that now, but still up naught point three percent on the day, but the Aussie also rising, only naught one percent up, but it has bucked the trend because most major currencies are down against that rising US dollar.
The Aussie dollar is at sixty-five point two US cents. The pound is down naught point four per cent. The euro down naught point six percent. Equities are on the rise at the close. A one point one percent lift in the Dow, half percent for the SP. The Nasdaq is unchanged. The Russell 2000 is at 1.7%, so a bit of a rotation day. Nvidia, well, it was down one percent today, despite that beat on earnings yesterday, and a revenue forecast that was in line with market expectations, but better than expected is not enough, it seems. And those forecasts did highlight rising costs, so margins were going to be changed. That's why we saw uh a fall in the share price, although Nvidia has picked up and finished the session up half a percent.
European stocks uh were also higher. The Euro stocks fifty finished up 0.6%, 0.8% higher for the FTSE 100, 0.7% for the DAX, and another high for Bitcoin, up four point two percent.
How are US jobless claims and continuing claims shaping the labor market outlook?
If it does the same thing again, it'll easily break the hundred thousand mark. It's undergoing the biggest unbroken rise right now because Mm, yeah, that's a tricky one, isn't it? Uh ten year Treasury yields up just one basis point at four point four two per cent, uh but yields down three basis points for ten years in Germany and the UK. Aussie ten years up two basis points yesterday to four point five seven per cent with no change overnight. And oil is higher, up over two percent for WTI and Brent. Brent now over seventy four thirty a barrel. And here's Nabs Skymasters joining me from Sydney. So I wonder if there's a a lesson here, Sky. I mean Nvidia is up about two hundred percent this year. Now it's peaked perhaps.
Maybe tech stocks will come down more. But Bitcoin up forty two percent in the last month with no reasoning behind it. I wonder what drives these strange behaviors that we seem to be seeing a lot of right now. Is do you th do you think it is a the fact that it's just an uncertain world because we don't know what's gonna happen in the White House next year. Is the is the bond market mo I know this is your you know, y you know the bond market so well. Is it is it more easily explained, Sky?
The b good morning, Phil. Look at I uh of course the bond market is far more easier to to explain and far more rational than than the other uh other markets. Um, look, I th I I think it's it's a very you know, it has been a very uncertain world and and and wow, you know, with with the US election result and Trump two point zero, um, you know, that that uncertainty is going to continue well into two thousand twenty five. Um and You know, look looking at you know look looking at price action um overnight, looking at the Nvidia share price and listening to what you y you know, what your your introduction just then I think, you know, you You you you were correct in what you were saying. Uh you know, I I think investors are just wanting wanting more um
And pi particularly in in um in the uh US equity market. Uh, you know, the the miss on Nvidia's revenue forecast wasn't that significant.
What does the mixed US manufacturing data (Philly Fed vs. Empire State) indicate for the economy?
Um and and, you know, in in isolation doesn't necessarily reflect the the price action that you've seen.
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Chapters
8 chapters
1
Why do Nvidia investors keep demanding more despite recent earnings?
0:01–1:49
2
How are US jobless claims and continuing claims shaping the labor market outlook?
1:49–3:58
3
What does the mixed US manufacturing data (Philly Fed vs. Empire State) indicate for the economy?
3:58–5:29
4
How are Fed officials’ comments influencing expectations for rate cuts?
5:29–8:27
5
Will Bitcoin break the $100,000 barrier given recent market momentum?
8:27–10:51
6
How are US housing sales and mortgage rates affecting the real‑estate market?
10:51–12:55
7
What impact could geopolitical tensions (e.g., Russia‑Ukraine) have on market stability?
12:55–15:03
8
What is private credit, and why is it growing rapidly in Australia and globally?
15:03–16:37