- Nvidia Corp.
- 28 August 2024 17:37:59
Source: Sharecast
In a research note published the day before, analysts at Bank of America had told clients that investors might be underpricing the risk of disappointment from the company.
For many investors, Nvidia was a bellwether for corporate investment in artificial intelligence, expectations for which had driven what some appeared concerned had been outsized gains in the so-called 'Magnificent 7' year-to-date.
As well, over recent weeks some reports had also hinted at potential new delays in shipments of Nvidia's new Blackwell chips.
Yet BofA believed that "we're in the early innings of an AI arms race, confirmed by hyperscalers* in their 2Q earnings. Collectively, they spent $52B in 2Q, +54% YoY (vs. +30% in 1Q), marking the first quarter of a multi-year AI investment cycle."
Nvidia was scheduled to reports its earnings after the close of markets in New York on Wednesday.
Against that backdrop, German and Spanish harmonised consumer price figures for August were due out at 0700 BST and 1200 BST, respectively.
At 0900 BST the European Commission would publish its economic sentiment index for the euro area covering that same month.
Revised figures for second quarter US gross domestic product were scheduled for release at 1230 BST.
Investors would also be keeping tabs on the results of the US Treasury's auction of seven-year debt at 1700 BST.
There were no major UK economic reports on the economic calendar for Thursday.
Thursday 29 August
INTERIMS
BBGI Global Infrastructure S.A. NPV (DI), China Pacific Insurance (Group) Co., Ltd GDR (Reg S), Gem Diamonds Ltd. (DI), Grafton Group Ut (CDI), Hunting, PPHE Hotel Group Ltd
INTERIM DIVIDEND PAYMENT DATE
Aberforth Smaller Companies Trust, Bellevue Healthcare Trust (Red)
INTERIM EX-DIVIDEND DATE
Capital Limited (DI), Centamin (DI), Clarkson, Dowlais Group, Genuit Group, InterContinental Hotels Group, International Personal Finance, JPMorgan American Inv Trust, LLoyds Banking Group 6.475% Non-Cum Pref Shares, Morgan Advance Materials 5% Cumulative 2nd Preference 1, Morgan Advance Materials 5.5% Cumulative 1st preference 1, Newcastle 12 5/8% Perm Int Bearing Shs #1000, Northern Electricity Prf, Pagegroup, Plus500 Ltd (DI), Quartix Technologies, Quilter, RHI Magnesita N.V. (DI), Robert Walters, Savills, Secure Trust Bank, Serco Group, Team Internet Group
QUARTERLY EX-DIVIDEND DATE
Canadian General Investments Ltd., Diversified Energy Company , Downing Renewables & Infrastructure Trust, Petrotal Corporation NPV (DI), Premier Miton Global Renewables Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Climate Indicator (EU) (10:00)
Consumer Confidence (EU) (10:00)
Continuing Claims (US) (13:30)
Economic Sentiment Indicator (EU) (10:00)
Gross Domestic Product (US) (13:30)
Industrial Confidence (EU) (10:00)
Initial Jobless Claims (US) (13:30)
Pending Homes Sales (US) (15:00)
Personal Consumption Expenditures (US) (13:30)
Services Sentiment (EU) (10:00)
SPECIAL EX-DIVIDEND DATE
Plus500 Ltd (DI)
EGMS
Roebuck Food Group Public Limited Company (CDI)
AGMS
Guinness Vct
FINAL DIVIDEND PAYMENT DATE
Calculus VCT
FINAL EX-DIVIDEND DATE
Auto Trader Group , Brickability Group , Diageo, Dr. Martens , Henderson Smaller Companies Inv Trust, Knights Group Holdings , Northern Bear, PayPoint, Zigup