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Creating some excitement, Nvidia (NASDAQ: NVDA) is pushing higher on a Truth Social report that the tech giant could ship its H200 chips to “approved customers” in China and other hotspots.
All under the condition that a quarter of sales be paid to the U.S. government. As a result, analysts at Bernstein have initiated an outperform rating on NVDA, noting that if reports are accurate, NVDA can ship chips to some customers in China, which is a positive development.
Shares of Micron (NASDAQ: MU) are down about $2.62 at the moment.
However, Deutsche Bank analysts see more upside heading into earnings. The firm reiterated its buy rating on MU ahead of earnings on December 17 with a price target of $280 from $200. The firm believes MU is well-positioned to benefit from the memory cycle, with HBM driving structural changes in the semiconductor industry.
As we wait on the Federal Reserve, markets are flat.
S&P 500 futures are up about a point. The SPDR S&P 500 ETF (SPY) is down fractionally. The Dow Jones is up about three points, with the Nasdaq down 14.
At the moment, there’s an 89.6% chance we’ll see a rate cut tomorrow. However, it’s not just a rate cut we want to see. Markets are also waiting on forecasts for GDP growth, inflation, and unemployment. We’re also waiting on any talk of stagflation, which would be bad news for markets. In fact, it could put any further chance of rate cuts in jeopardy.
“While a rate cut feels almost certain at this point, the Fed’s economic projections and Chairman Powell’s commentary will play a big role in how markets react — not only this week, but it could set the tone for the remainder of the month,” Bret Kenwell, U.S. investment analyst at eToro, said as quoted by CNBC. “After the recent pullback in stocks and crypto, risk-on investors are hoping the Fed will grease the rails for a year-end rally rather than pour cold water on the recent rebound.”
Hot Stocks on the Move this Morning
Nvidia (NASDAQ: NVDA) is up on news that the tech giant could ship its H200 chips to China. All under the condition that a quarter of sales be paid to the U.S. government. As a result, analysts at Bernstein just initiated an outperform rating on NVDA, noting that if reports are accurate, that NVDA can ship chips to some customers in China’s a positive development.
Shares of Micron (NASDAQ: MU) are down about $2.62 at the moment.
However, Deutsche Bank analysts see more upside heading into earnings. The firm reiterated its buy rating on MU ahead of earnings on December 17 with a price target of $280 from $200. The firm believes MU is well-positioned to benefit from the memory cycle, with HBM driving structural changes in the semiconductor industry.
And down, but not out, shares of Netflix (NASDAQ: NFLX) are being viewed positively by analysts at Needham. The firm has a buy rating on NFLX and doesn’t believe it needs Warner Bros. Discovery. According to the firm, “NFLX buying WBD would put $83B of additional value at risk of being disrupted by GenAI. Without WBD, NFLX is more global, more nimble, more tech-first, and has more flexibility with the Hollywood unions (called Guilds),” as quoted by CNBC.