Morning Juice – US Session Prep

Morning, Traders!
It is Wednesday the 28th of August, here are some things to look out for today.

Sentiment
Prior to a significant earnings announcement from Nvidia, the $3 trillion company leading the world’s artificial intelligence frenzy, global shares moved higher.

When Nvidia reports after market close, it is anticipated to estimate revenue growth of over 70% for the current quarter.
Nvidia is seen as a barometer for AI expenditure throughout much of the technology industry.
Given the company’s weight in US indexes, any disappointment is sure to cause market turbulence.

The stock increased slightly in premarket trade after rising almost 160% so far this year, much more than the 16.4% rise on the Nasdaq 100.
On the day following the results, the options market is projecting swings of around 10% in either way.

Docket
10:30 ET
US Weekly EIA Crude Oil Inventories
Median Forecast: -3M | Prior: -4.649M | Range: -2.55M / -3.377M

13:00 ET
US sells $70 bln 5-Year Notes

Speakers
08:15 ET
BoE’s Mann speaks on a panel titled ‘The Value of Economic Research for Policy’, organized by Raphael Auer, BIS Innovation Hub/CEBRA

Earnings
16:20 ET
Nvidia Q2 2024 Earnings
Est. EPS 64c
Est. Rev $28.56B

Good luck!